The New Mexico Public Regulation Commission (PRC) has voted 4-1 to pass an order establishing a reasonable cost threshold (RCT) for New Mexico's public utilities to use when calculating the amount they spend annually on clean energy in order to meet the state's renewable portfolio standard.
The new RCT requires companies like Public Service Company of New Mexico to spend 3% of its total annual retail revenue on renewable energy. Of that energy, 30% must be generated from wind, 20% from solar and 5% from other green sources like biomass.
Utility cooperatives will also begin complying with a 5% RCT beginning in 2015.
