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New Mexico regulators greenlight PNM's integrated resources plan


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New Mexico regulators greenlight PNM's integrated resources plan

The New Mexico Public Regulation Commission on Dec. 19 approved Public Service Co. of New Mexico's integrated resources plan, or IRP, which includes the company's proposal to stop using coal-fired power resources by 2031.

In July 2017, PNM Resources Inc. subsidiary Public Service Co. of New Mexico, or PNM, filed an IRP with the commission, calling for the retirement of the remaining two units of the San Juan coal-fired generating station in 2022, and the sale of its 13% stake in the 1,540-MW Four Corners power plant after a coal supply agreement ends in 2031.

The IRP also includes the addition of solar and wind power resources and potential energy storage projects that would replace the electricity produced by the coal-fired plants and support load growth for 20 years.

"Through the implementation of this plan, more than half of PNM energy would be emission-free by 2023, increasing to nearly 70% emission-free by 2032," said Pat Vincent-Collawn, PNM Resources' chairman, president and CEO.

The approval of the IRP only states that the utility met regulatory requirements. Any planned resource additions or retirements must be approved through a separate process, according to a company news release.

PNM expects to make a compliance filing before the end of 2018, detailing its plans for the San Juan generating station, as a condition of a previous settlement.