Now that Public Service Company of New Mexico has been forced to risk huge investments in so-called renewable energy facilities as required by a series of laws passed during the Bill Richardson years, two environmental groups are planning to challenge PNM’s application for an annually adjusted renewable energy charge that will attempt to recover its costs.
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.”
Predictably, Environmentalists Double-Cross PNM
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2 comments:
This is part and parcel of the "renewable energy" playbook: don't let anyone know what solar and wind power really costs in relation to conventional power sources.
If utilities aren't able to recover their costs to generate renewable energy, how are they suppose to survive? At a minimum, PNM should be filing counter suits in hopes of bankrupting these environmental group's funds through law suit settlements and ongoing attorney fees. Right now, it looks more like layoffs of hundreds if not thousands will be necessary. The public's image of environmental groups is not very flattering. They're job killers. The only thing they've achieved is making damn sure we're all paying more for electricity.
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