From: Mariel Nanasi <mariel@seedsbeneaththesnow.com>

Subject: New Energy Economy’s response to press releases

Date: February 7, 2019 at 4:16:54 PM MST

All,

We haven’t seen the bill. That said we have been sent numerous press releases. Here is our statement without having seen the bill. 

We are eager to see the bill and scrutinize the details but if it includes a 100% bailout for PNM, New Mexicans have spoken and they’re emphatically opposed. Why should all the lost earnings, clean up costs and worker severance issues be paid by ratepayers without PNM contributing a penny to their bad business decisions? If the bill has a cap of $30M for clean up costs and the funds are not enough to cover leaking coal ash, for instance, will this allow PNM to wash their hands of responsibility? Does the bill include a 100% bailout for the Four Corners coal plant too? What is the total cost to ratepayers of this bill? What is the actual cost that will appear as a “non-bypassable” charge on residential ratepayers’ bills per month and for how many years? Does it straight jacket the Constitutionally designated regulatory agency, the PRC, from reviewing the costs and replacement power issues? Who came up with the numbers and who has evaluated them? We have a mechanism in place, the PRC, that’s job it is to protect consumer interests by vetting them and this bill seems to sideline them and ignores the NM Constitution, said Mariel Nanasi, Executive Director, New Energy Economy.

Mariel Nanasi
Executive Director
New Energy Economy
505-469-4060 (cell)
505-989-7262 (office)
www.NewEnergyEconomy.org

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