Bill > HB445

This bill proposes to reduce the requirements for public utilities in New Mexico to include renewable energy in their electricity supply. Specifically, it removes the mandate for renewable energy to comprise at least twenty percent of a public utility's total retail sales to New Mexico customers by January 1, 2020, effectively lowering the overall renewable energy target. The bill maintains existing provisions that allow for adjustments to renewable energy procurement costs for certain large non-governmental customers and exempts specific governmental and educational institutions under certain conditions. It also continues to allow the commission, which is the regulatory body overseeing utilities, to establish a "reasonable cost threshold" above which utilities are not required to procure renewable energy, and to adjust this threshold based on various factors like the price of renewable energy, transmission costs, and the impact on customer rates.