ALBUQUERQUE, NM (AP) – Environmentalists question the claim by New Mexico’s largest electricity provider that the project violates New Mexico’s energy milestone by reducing interest in coal-fired power plants that supply electricity to customers in New Mexico and Arizona.
In a lawsuit filed Thursday with state regulators, they argue that the law prohibits the sale of plants that burn fossil fuels to renew or sell renewable energy standards to citizens of the new energy economy and reasonable rates and environment.
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They also say the New Mexico utility company to abandon the Four Corners power plant is incomplete because it did not give or testify whether this would result in the proposed sale of PNM shares to Navajo Intermediate Energy. Net general profit.
Both environmental groups argue that there are no real environmental benefits to the early exit plan, as the tribe company and other co-owners, including the Arizona Public Service, will be operating in all four corners by 2031.
The New Mexico Public Service Agency seeks to recoup $ 300 million invested in Four Corners, which will be paid for by utility customers using low-cost securities.
Mariel Nanasi, CEO of the New Energy Economy, said the biggest attraction of the Energy Change Act is the transition of the state from fossil fuels to renewable energy. He explained that the app proposes to give up the tribe’s coal assets and that it is bold to ask clients to pay for poor business decisions.
“PNM doesn’t really give up coal, it’s like shutting down. In the process, PNM sells its coal to burn and incinerate the people of New Mexico, “said Nanasi.
The app argued that using lower cost bonds to recoup their investments and replace coal with cheaper renewable generation could save customers between $ 30 million and $ 300 million over time compared to what is left over from the four corners by 2031. The amount saved is that the costs of any alternative energy are finally approved by state regulators.
Environmental activists also argue that the state public regulatory authority has the power to determine whether BNM’s request to recoup its investments as part of the abandonment process is prudent. The power of the question is part of the previous legal challenges related to the change of law. Some state legislators have proposed amendments to the law to clarify that power.
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