New Mexico regulators weigh transfer of power plant shares
It will be up to New Mexico regulators to clear the way for the state's largest electric provider to transfer its shares in one of the Southwest's remaining coal-fired power plants to a Navajo energy company.
A hearing examiner with the Public Regulation Commission presented his recommendations to commissioners during a meeting Thursday, saying it would benefit customers and the Navajo Nation.
Environmentalists have concerns. Under the proposal, Navajo Transitional Energy Co. would take over Public Service Co. of New Mexico's interest in the plant, becoming the second largest owner of shares in the facility.
The majority owner is Arizona Public Service Co. The commission is expected to make a final decision soon.