Decision shields customers from paying higher costs associated with certain investments while allowing the utility to provide safe, efficient, and reliable service
SANTA FE – Today, the New Mexico Public Regulation Commission (NMPRC) authorized Public Service Company of New Mexico (PNM) to set new rates following PNM’s application to revise its retail rates (Docket No. 22-00270-UT), largely adopting the recommended decision issued by the NMPRC’s Hearing Examiners, including key findings about the prudency of PNM’s renewed participation in the Four Corners Power Plant and issues remaining concerning the Palo Verde Nuclear Generating Station. These findings will prevent customers from bearing the cost of tens of millions of dollars related to investments in Four Corners and Palo Verde. The Commission also directed PNM to return $38.4 million in ratepayer funds collected in 2023 for Palo Verde Unit 1 leasehold payments that expired at the end of 2022.
