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Bad PRC Decision on Nuclear. The hearing on the PNM rate case was completed yesterday and will be appealed by PNM to the Supreme Court. On a 3-2 vote, the commission adopted Commissioner Lyon’s order that adopted most of the Hearing Examiner’s recommended decision (RD). The order also brought in Palo Verde at 27 percent of its cost. There was no cost recovery for the balanced draft system being installed by PNM at San Juan Generating Station, which was approved last fall in the San Juan case.
This was not a good decision for the company, its shareholder or ratepayers. Palo Verde Nuclear Generating Station is the top nuclear energy producer in the world and regularly sets safety records. It is New Mexico’s best carbon-free reliable base load option available and this could have significant impacts on cost and reliability in the future.
More information on PRC's ruling yesterday HERE.