Tuesday, August 3, 2021

Play

Public health experts are concerned many kids have missed important checkups and vaccinations, and a third DC Police officer who responded to the January 6 insurrection takes his own life.

Play

The White House calls for states to rescue renters, Senators dissect a massive infrastructure plan, and both the White House and Congress are losing approval in the eyes of voters.

Energy Bonds Bill Called "Blank Check" for NM's Largest Utility Company

Play

Monday, January 29, 2018   

SANTA FE, N.M. — A bill that would allow Public Service Company of New Mexico to issue bonds to pay for the shutdown of its coal-fired plants in the Four Corners region goes to the Conservation Committee at the Roundhouse tomorrow.

Critics say Senate Bill 47 allows PNM to pass-on the $350 million plant closure cost to ratepayers, but does not guarantee replacement energy will be the lowest-cost option or will come from renewable sources. A coalition of more than two dozen statewide organizations have signed a letter opposing the bill.

Supporters of the bill claim it would help protect jobs and the economy. But Mariel Nanasi, executive director of New Energy Economy, said there's nothing in the bill that would protect workers or require cleanup of the site.

"This is a blank check to PNM,” Nanasi said. “It would compensate PNM for all un-depreciated costs in their coal plants, all reclamation and decommissioning and the same possibly in their nuclear plants."

The bill’s supporters argued that 13 other states have used a similar bonding mechanism when shutting down coal or nuclear power plants. But Nanashi called New Mexico bonding bill premature, because PNM's plan has yet to be vetted with the state's regulatory agency.

Many families in New Mexico already are living in "energy poverty" - meaning they spend more than 10 percent of their income to pay utility bills. In fact, in many counties across New Mexico, the average household energy costs range from 24-50 percent.

Nanasi argued that the bill is an end-run around the state's regulatory commission, which in the past has ruled that PNM should share cost burdens with rate-payers, 50-50.

"There needs to be a sharing of the burden. Investors have to pay half, and rate-payers have to pay half,” Nanasi said. “But in this case, PNM wants full recovery, and ratepayers, the poorest people in New Mexico, should bail them out."

Nanasi also contended the bill is unconstitutional because there are pending cases before the state Supreme Court involving PNM and the San Juan plant.


get more stories like this via email

The commission charged with drawing Ohio's 99 House and 33 Senate districts meets this week. (Adobe Stock)

Social Issues

COLUMBUS, Ohio -- New congressional and legislative maps will soon start to take shape in Ohio. The Ohio Redistricting Commission convenes for the …


Social Issues

DENVER -- Today marks the day Black women in the U.S. will finally earn as much as a white, non-Hispanic man was paid in 2020. Ashley Panelli…

Environment

CHICAGO -- As Illinois residents get ready for more high temperatures this August, utility watchdogs are urging people to practice energy efficiency …


Chronic wasting disease can be transmitted between deer, along with food and soil contaminated by bodily fluids. (Adobe Stock)

Environment

WARREN, Pa. -- A temporary animal-feeding ban is being proposed for the Allegheny National Forest after a captive deer tested positive for chronic …

Social Issues

LOS ANGELES -- Hunger-fighting advocacy groups are speaking out in California, drawing attention to the continuing problem of food insecurity…

A new report from Georgetown University and the American Academy of Pediatrics recommends a coordinated and far-reaching public health campaign about childhood vaccinations. (Adobe Stock)

Social Issues

SACRAMENTO, Calif. -- Parents are gearing up for their children to return to the classroom for the first time in over a year, and public health …

Environment

LITCHFIELD, N.H. -- A 63-acre parcel of land along the Merrimack River is becoming part of the New Hampshire Agrarian Commons. The property, known as …

Social Issues

RICHMOND, Va. - Virginia's General Assembly Special Session begins today to budget more than $4 billion in federal COVID relief funds, and advocates …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright 2021