New Mexico utility recalculates costs of energy plan

New Mexico

ALBUQUERQUE, N.M. (AP) – The state’s largest electric utility is recalculating costs and benefits associated with the planned closure of a coal-fired power plant in northwest New Mexico.

Public Service Company of New Mexico is filing corrected paperwork with state regulators this week after finding a modeling error in the different scenarios for replacing capacity that will be lost with the closure of the San Juan Generating Station in 2022.

The utility has proposed four options. They include various mixes of natural gas, nuclear, renewable resources and battery storage.

New modeling show monthly savings for the average customer would be less – $6.87 instead of $7.11 – if regulators go with the utility’s preferred option.

The cost of that plan is about $4.6 billion. It would include natural gas, solar, wind and battery storage.

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