Regulators rejected on Wednesday an effort by New Mexico’s largest electric utility to recoup from customers millions of dollars of investments made in a coal-fired power plant in the northwestern corner of the state and a nuclear power plant in neighboring Arizona.
The Public Regulation Commission's decision means Public Service Co. of New Mexico customers will not have to bear some costs associated with PNM’s stake in the Four Corners Power Plant near Farmington or in the Palo Verde Generating Station outside of Phoenix. Commissioners said those investments were not prudent.
