ALBUQUERQUE, N.M. (AP) — New Mexico's largest electric utility has proposed adding more renewable energy to its portfolio over the next two years, but the changes could lead to higher electric bills for customers.
Public Service Company of New Mexico submitted its annual renewable energy plan to the Public Regulation Commission on Monday. It calls for adding geothermal and solar capacity.
Under the plan, PNM would also continue its program for customers who want to install solar panels on their rooftops.
PNM says some fossil fuel costs would be offset by adding renewable energy. Still, the cost for customers of complying with state energy mandates in 2013 is estimated at more than $19 million.
Costs for renewable energy procurements made in 2011 and 2012 have yet to hit customer bills. PNM says the average customer could see an increase of about $1.40 as early as August.
Copyright 2012 The Associated Press.