PNM To Fall Short Of Mandates
New Mexico – New Mexico's largest electric utility is seeking a waiver from regulators, saying it won't be able to meet state renewable energy standards in 2012 without exceeding cost thresholds designed to protect customers.
The Public Regulation Commission has scheduled a hearing in April on the request made by Public Service Company of New Mexico as part of its proposed renewable energy procurement plan.
Commissioner Jason Marks says the request will undergo close scrutiny to ensure PNM is making a "reasonable effort" to meet the state's requirements.
Those requirements call for 10 percent of electricity to come from renewable sources such as wind, solar and biomass. Also, the use of renewable sources which are generally more costly cannot result in increases to customer bills of more than 2.25 percent in 2012.
Copyright 2011 The Associated Press.