In PNM's plan to recover its investment, the company wants to add less than $1.40 each month to the average residential bill. This will enable PNM to recover its costs for renewable projects brought on line since January of 2011. Ultimately the utilities next general rate case would provide the final determination method for PNM’s cost of investment recovery.
Both Western Resource Advocates and the Coalition for Clean and Affordable Energy were huge advocates of passing the legislation forcing PNM to make investments in the renewable facilities. As predicted by experts appearing on News New Mexico and in other forums, now both of these so-called environmental groups intend to deny PNM the right to recover the costs it was forced to make. Western’s Steve Michel told the Albuquerque Journal his group and the Coalition for Clean and Affordable Energy will contest the utility’s proposal.
PNM spokesperson Susan Sponar responded to the attacks by environmental groups in the Albuquerque Journal. “PNM is only proposing to recover costs that have been fully identified and approved after hearings for its annual renewable compliance plans.”