Marisol Fernandez y Mora comments on the PRC's recent extension to PNM, the dire state of the U.S. coal market, and the need to transition to renewables.
Clean energy, not coal
The New Mexico Public Regulation Commission once again granted the Public Service Company of New Mexico extended time to prove that more coal and nuclear is cost-effective and in New Mexico’s best interest.
Recently Bloomberg Business published insight regarding coal’s bleak future. Many U.S. coal companies have gone bankrupt in recent years. Coal’s share in the energy market is collapsing. Utilities are playing a high-stakes game of chicken, hoping that other utilities reach bankruptcy first. PNM is losing, and the “owner of last resort” of a plant that all others have fled. PNM is trying to shift the burden of coal’s risks and liabilities onto New Mexicans. It’s time to wash our hands of dirty coal, and to create jobs around wind and solar energy.
Marisol Fernandez y Mora