Bill > SB109

This bill amends existing law to prevent a utility from recovering costs associated with abandoning a power plant if that same utility invests in, builds, acquires, or operates new natural gas facilities. Specifically, a "qualifying utility" (a utility that owns or operates a power plant) that is abandoning or has already abandoned a "qualifying generating facility" (a power plant that meets certain criteria) will be ineligible to apply for a "financing order" to recover "energy transition costs" (expenses related to closing down a power plant, such as decommissioning and reclamation) if they are simultaneously investing in new natural gas resources. This provision aims to discourage utilities from transitioning away from older power sources only to immediately invest in new fossil fuel infrastructure.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=109&year=26