The New Mexico Supreme Court has ruled that the Public Regulation Commission acted within the law when it allowed Public Service Co. of New Mexico to earn a profit on operating expenses related to its energy conservation programs.
The Albuquerque Journal reports that the justices rejected arguments by the state attorney general's office and industrial customers who opposed the commission's decision.
According to the court ruling issued Thursday, New Mexico law authorizes regulators to remove disincentives that could keep utilities from encouraging energy conservation by customers.
The ruling said the commission balanced the interests of the utility's investors with those of ratepayers when it set rates for PNM.
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