Despite sharp rate increases for customers and soaring profits for the utility in recent years, PNM has made poor progress in clean energy development.
It is troubling that PNM fails to meet state law, the NM Renewable Energy Act, while other investor-owned utilities in New Mexico are achieving the renewable energy requirements.
Tell PNM to invest its earnings in real clean energy solutions rather than continuing to simply pad its profits.
Subject: Invest in real clean energy solutions rather than continue padding company profits
Dear PNM CEO Pat Vincent-Collawn,
As PNM customers and New Mexicans, we are deeply disturbed by our utility's lack of progress in clean energy development despite sharp rate increases for customers and soaring profits for the utility in recent years. It is troubling that PNM fails to meet state law, the NM Renewable Energy Act, while other investor-owned utilities in New Mexico are achieving the renewable energy requirements.
We call on PNM to invest its earnings in real clean energy solutions rather than continuing to simply pad its profits. More specifically, we demand that PNM:
- submit a renewable energy plan to the Public Regulation Commission that meets, if not exceeds, the minimum requirements set forth in the NM Renewable Energy Act;
- maintain, if not ramp up, its Solar Incentive Program, including net metering and Renewable Energy Credits (RECs), for customer-sited solar electricity; and
- increase investment in demand-side management programs in order to get on track to meet the NM Efficient Use of Energy Act.
