PNM Study: closing coal plant will save ratepayers $445 million

A new analysis by PNM shows that divesting from the Four Corners Power Plant will save electricity ratepayers $445,682,093, says Santa Fe-based New Energy Economy. For more than a decade, Santa Fe-based New Energy Economy has been pushing New Mexico’s largest electric utility to divest from coal and convert to a 100% renewable energy portfolio. NEE has always argued that doing so wasn’t just the environmentally responsible thing to do, it was cheaper for electricity users (ratepayers) like you and me, too. But New Energy Economy says PNM refused to do the analysis that proved it so New Energy Economy pressed the state’s Public Regulation Commission to order PNM to provide the data.  It turns out, NEE was right.

PNM looks to close coal-fired San Juan plant (if they get a rate increase from the PRC)

Santa Fe, NM –  PNM is beginning the process to plan for a permanent shutdown of the coal-fired San Juan Generation Station by 2022. The SJGS is responsible for generating nearly 60% of the state’s power, but it relies on coal power and a nearby coal mine PNM purchased last year to support it. PNM proposed two scenarios for future power production: one to keep the plant in operation after 2022, the other to close it and shift to a larger renewable portfolio.  But, PNM added a catch: the scenarios supporting closing the plant are tied to PNM’s latest rate increase request to the PRC which asks for electricity rates to increase by as much as 14% for New Mexico customers. “I want to stress that is only a preliminary finding regarding our San Juan Generating Station,” Vincent-Collawn told the Albuquerque Journal.