The New Mexico Public Regulation Commission (NMPRC) unanimously approved an order pertaining to plans by PNM, the wholly owned New Mexico utility subsidiary of PNM Resources to join the Western Energy Imbalance Market (EIM), operated by the California Independent System Operator. The order governs the accounting treatment for costs related to joining the EIM.
PNM considered the costs and benefits of joining multiple regional organizations and determined that the EIM currently provides the greatest benefit to customers, including expanding opportunities for PNM to integrate additional renewable energy into its service territory. T
Through coordination with other EIM members, PNM will be able to facilitate greater use of renewable resources in New Mexico. When renewable energy production on the PNM system exceeds the amounts needed by its customers, PNM will be able to sell this excess energy to other EIM members and reduce customer costs by the amount of these sales.
The NMPRC also granted PNM unanimous approval of its 2019 Renewable Energy Act Plan on November 29, 2018, incorporating previously approved wind, solar and geothermal energy additions into customer rates. These renewable additions, which include 50 MW of solar facilities constructed in 2018, contribute to the 874 MW of existing and approved solar, wind, and geothermal resources that PNM has planned to serve customers in 2021.
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