Bill > HB137

This bill, called the Clean Electrification Act, allows utilities and cooperatives to provide beneficial and low-income electrification projects, which convert buildings or industrial processes from fossil fuels to electricity. It requires public utilities, municipal utilities, and rural electric cooperatives to gradually reduce their carbon dioxide emissions from electricity generation, with utilities having to reach net-zero emissions by 2045 and cooperatives by 2050. The bill establishes a system of "clean electricity credits" that utilities and cooperatives can use to demonstrate compliance, and it outlines procedures for compliance, including fees and penalties. The bill also allows the Department of Environment to grant variances from the requirements in certain circumstances to preserve electricity reliability and affordability.

Agriculture and Natural Resources, Justice

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=137&year=21