Public Service Co. of New Mexico went before the New Mexico State Supreme Court and lost this week as the justices denied the state’s largest electric utility a rate rider to collect millions of dollars more from customers under New Mexico’s Renewable Energy Act.
It was a unanimous ruling to reject PNM’s appeal of a decision by the state Public Regulation Commission. The original request was complicated and involved a law that allowed utilities to derive 20% of their produced electricity to come from renewable sources and increase the amount to 40% by 2025. The Las Cruces Bulletin reported PNM wanted 50% by 2030, 80% ten years later and 100% by 2045.
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