New Mexico regulators approve utility plan to abandon 847MW San Juan coal plant

first_img FacebookTwitterLinkedInEmailPrint分享Santa Fe New Mexican:The state’s largest electric utility will be allowed to abandon a coal-fired power plant near Farmington and recover investments by company shareholders after a unanimous vote Wednesday by the New Mexico Public Regulation Commission.The video meeting was cut short by a so-called Zoom bomb — named for the popular video-conferencing app — just as commissioners appeared to be preparing to vote on whether to allow Public Service Company of New Mexico to abandon its coal-fired San Juan Generating Station.PNM Resources Chairwoman, President and CEO Pat Vincent-Collawn said in a statement that customers and the environment “will benefit as we move to exit all of our coal-fired generation and replace it with lower-cost, cleaner energy resources.”Vincent-Collawn also said the company’s ability to recover costs will help it offer $40 million for workers who will lose their jobs and for economic development in the community of Farmington if the coal plant idles.But whether the plant will actually close as a result of PNM leaving it behind is still unclear. A company called Enchant Energy is pursuing a separate plan to buy the station and install carbon-capture technology to keep it running.The decision Wednesday comes after months of legal proceedings that delayed certainty over whether PNM could leave the coal plant behind. Commissioners approved recommendations from the regulatory agency’s hearing examiners to allow the PRC to abandon the coal plant under provisions in a new renewable energy law that gives PNM the ability to sell bonds to earn back investments made by shareholders.[Michael Gerstein]More: PRC approves PNM plan to close San Juan plant after meeting derailed by ‘Zoom bomb’ New Mexico regulators approve utility plan to abandon 847MW San Juan coal plantlast_img

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