House Panel Approves Bill To Reduce Renewable Energy Requirements

New Mexico – A House panel has approved a bill that would reduce the percentage of renewable energy required as part of a public utility's portfolio in New Mexico.

The Business and Industry Committee voted 7-5 Thursday night in favor of the measure sponsored by Republican Rep. James Strickler of Farmington.

Nearly 30 states have developed renewable energy portfolio standards that require electric utilities to get as much as 25 percent of their power from renewable sources within the next decade. In New Mexico, this year's standard for investor-owned utilities is 10 percent. That will increase to 20 percent by 2020.

The bill would reduce the percentage this year to 5 percent and 10 percent in 2020.

State energy officials say all investor-owned utilities are expected to meet this year's requirement.

Copyright 2011 The Associated Press.