ALBUQUERQUE, N.M. — Public Service Company of New Mexico has rejected a regulatory ruling that would allow it to increase its rates but not recover millions of dollars it spent on two coal-fired power plants.
The rejection means the case will now be sent to a new round of hearings in front of the New Mexico Public Regulation Commission, though without consideration of additional evidence.
“PNM respectfully submits that the Commission reconsider . . . the prudence of certain investments in Four Corners Power Plant and San Juan Generating Station,” the utility wrote in a regulatory filing. “PNM asks that the Commission also recognize and give weight to the strategic and long-term importance of . . . retiring coal generation without foreclosing future input of stakeholders and communities in that process.”