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Groups Protest PNM’s Proposed Rate Increase, Policies

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Wednesday, May 18, 2016   

ALBUQUERQUE, N.M. - Protesters gathered at the Albuquerque headquarters of the energy company PNM on Tuesday to protest a plan to raise electric rates. At the same time, more protesters gathered outside a PNM shareholders' meeting in suburban Dallas, demanding that the company move toward using renewable sources of energy.

Tom Solomon, co-coordinator of the safe energy advocacy group 350.org New Mexico, said PNM continues to use both dangerous and outdated resources to generate power.

"PNM is continuing to invest in old, dirty, toxic technology," he said, "and instead, they should be pursuing and converting to renewable energy, including solar and wind power."

At an April hearing of the New Mexico Public Regulation Commission, PNM proposed a 16 percent annual rate increase, based on its long-term investments in coal-fired generating plants and nuclear power. More than a dozen environmental, social and consumer groups, as well as individuals, spoke against the PNM plan.

At the meeting in Texas on Tuesday, a small group of shareholders introduced resolutions demanding that PNM management adopt a plan for reducing pollution and carbon emissions and to tie management pay to achieving those goals. The resolutions failed.

Solomon said the company is ignoring what is best for New Mexico ratepayers.

"They invest in nuclear energy from Palo Verde in Arizona, and the very obsolete coal power in the Four Corners area of New Mexico," he said. "It is not what New Mexicans want, but they can get away with it as long as the Public Regulation Commission allows that."

In addition to 350.org, groups including the Sierra Club, Environment New Mexico, Interfaith Power and Light and New Energy Economy participated in Tuesday's protests. The Public Regulation Commission said it will rule on PNM's rate hike request sometime this summer.


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