The state’s highest court has ruled that the controversial Energy Transition Act will apply to PNM as it seeks to recover investments made to the San Juan Generating station near Farmington. The law, which requires the state to transition to zero-carbon electricity generation by 2045, will also enable PNM to sell bonds that would be paid off by utility customers to raise $360 million. Read more HERE.
It’s still unclear whether or not the San Juan generating station will remain open under new ownership. The city of Farmington is considering a plan to allow NM based Enchant Energy to take over operations and retrofit the plant with cutting edge carbon capture technology. Doing so would allow for the generating station and the coal mine that supports it to remain open. Read more HERE.