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New Mexico Regulators Want More Details On Power Plant Sale

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AP Photo/Susan Montoya Bryan, File
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New Mexico’s largest electric provider must file an amended application with state regulators who will determine whether it can transfer its shares in a coal-fired power plant to an energy company backed by the Navajo Nation.

 

Regulators say Public Service Co. of New Mexico's application to abandon its stake in the Four Corners Power Plant was insufficient and doesn't go far enough in explaining whether the transaction would benefit the public. The utility has until March 15 to submit a revamped application and additional evidence. Environmentalists have concerns about the sale, saying it runs counter to a New Mexico law aimed at ending fossil fuel electricity generation.

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