Supreme Court affirms financing order for PNM’s abandonment of coal-fired plant

Politics - Government

NEW MEXICO (KRQE) – The State Supreme Court rejected challenges to the Energy Transition Act, which requires electric utilities to move to carbon-free power. The court also affirmed a financing order that would pay for PNM to leave the San Juan Generating Station near Farmington.


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The order allows PNM to issue up to $361 million in bonds for energy transition costs. The bonds are paid for by customers. Two advocacy groups claimed charging ratepayers for energy transition costs violated customers’ rights.

To read the order, visit nmonesource.com/nmos/nmsc/en/item/518898/index.do.

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