in News Departments > New & Noteworthy
print the content item

PNM Resources has announced that the New Mexico Public Regulation Commission (NMPRC) has approved the utility's plan to collect renewable energy expenses through a rider. PNM says the renewable energy costs are related to the state's renewable portfolio standard, which is 20% by 2020 for investor-owned utilities and 10% by 2020 for rural electric co-ops.

PNM says the rider is designed to allow the company to recover certain NMPRC-approved renewable energy procurement costs that have been incurred since January 2011. These costs come from five utility-scale solar facilities, a battery-storage project and certain wind resource procurements, as well as from purchases of renewable energy and renewable energy certificates.

PNM expects $6.7 million in revenue during the remainder of the year from the rider, with rates going into effect on Aug. 20. The rider is expected to increase the average customer bill by $1.34 per month.

The rider includes a 10% authorized return and 2013 expected revenues of approximately $22.7 million. The rate rider would be reset as of Jan. 1, 2013, to reflect unrecovered costs from 2012 and projected costs to be incurred in 2013. The renewable energy rider is capped in 2012 and 2013 by $18 million and $24.6 million, respectively, under the stipulation in PNM's 2010 electric rate case. However, any amounts incurred that are in excess of the caps will be deferred for future recovery without carrying costs, PNM explains.




Hybrid Energy Innovations 2015
Latest Top Stories

Demand Response And Renewables Help SDG&E Tackle Record-Breaking Heat Wave

San Diego Gas & Electric (SDG&E) recorded peak demand records last week and relied heavily on energy conservation, as well as imported wind and solar power, to keep the lights on.


Report: Utility-Scale Renewables Keep Getting Cheaper

A new study suggests the levelized costs of energy of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


Duke Energy Commits $500M To Major Solar Expansion In N.C.

The utility company says the investment will help further diversify its portfolio, as well as increase solar power for its North Carolina customers by 60%.


Sensus Issues Refund To SaskPower After Smart Meter Woes

As SaskPower continues to swap out its Sensus units following several meter failures, the two companies have reached an agreement in order for the utility to recover costs.


The Smart Utility's Guide To Choosing A Smart Meter

Electricity providers across North America are taking on grid modernization. This article outlines the myriad factors a utility should consider in order to select the best-possible smart meter.

S&C Electric_id176
Hybrid Energy Innovations 2015
edf_id180
Future Energy_id187