The bill to amend the Energy Transition Act sponsored by Senators William Tallman, Antoinette Sedillo-Lopez, Liz Stefanics and William Soules has been filed. This bill is necessary to protect ratepayers in New Mexico from paying for all the closing and cleanup costs for PNM's dirty fossil fuel and nuclear energy plants. Attorneys, utility regulators, PRC staff, and the utilities themselves agree that the current wording in the law gives PNM 100% cost and cleanup recovery from ratepayers when plants close. Shareholders pay nothing. PRC oversight to balance the rights of ratepayers with shareholders must be re-established.
Articles in the Albuquerque Journal, Santa Fe New Mexican and the Associated Press dive into the economic justice issues involved.