New Mexico
New Mexico regulators reject utility's effort to recoup some investments in coal and nuclear plants
ALBUQUERQUE, N.M. (AP) — 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.
Overall, residential customers will see a decrease in rates instead of the 9.7% increase that the utility was seeking.
The commission said in a statement that PNM still will be able to collect a reasonable return on its investments while providing reliable service to more than 500,000 customers around the state.
PNM filed a request for its first rate hike in years in late 2022, saying the nearly $64 million in additional revenue was needed as part of a long-term plan to recoup $2.6 billion in investments necessary to modernize the grid and meet state mandates for transitioning away from coal and natural gas.
The utility also had cited the expiration of lease agreements for electricity from the Palo Verde plant and the desire to refinance debt to take advantage of lower interest rates.
Hearing examiners with the Public Regulation Commission who reviewed the case recommended in December that the commission reject costs associated with the sale of leases at Palo Verde to a third party. They also said PNM’s 2016 decision to invest in extending the life of the Four Corners plant wasn’t prudent.
PNM officials said late Wednesday that they were reviewing the commission’s order. The utility has until Feb. 2 to seek a rehearing before the commission.
Consumer advocates and environmental groups were pleased the commission opted to reject some of the costs associated with PNM’s investments.
“The commission recognized that PNM failed to do its due diligence before reinvesting in Four Corners after 2016, when there were clear signs that coal is a costly and deadly fuel,” said Matthew Gerhart, a senior attorney with Sierra Club.
The utility had tried to divest itself from Four Corners by transferring its shares to a Navajo energy company. However, regulators rejected that proposal, a decision that was later upheld by the New Mexico Supreme Court.
Located on the Navajo Nation, the Four Corners plant is operated by Arizona Public Service Co. The utility owns a majority of shares in the plant’s two remaining units.
Navajo Transitional Energy Co. had sought to take over PNM’s shares, saying that preventing an early closure of the power plant would help soften the economic blow to communities that have long relied on tax revenue and jobs tied to coal-fired generation.
The nearby San Juan Generating Station was shuttered in 2022, sending financial ripples through the surrounding communities. PNM had operated that plant for decades.
New Mexico
Last Call Eatery making a comeback
ALBUQUERQUE, N.M. – One of Albuquerque’s favorite restaurants is making a comeback.
Last Call Eatery is known for burritos, tacos and other bold flavors with a healthier twist.
Owner Luis Valdovinos was in the KOB 4 studio Friday morning to talk about the return of Last call and its new location.
Watch the video above for more.
New Mexico
New Mexico Gov. calls for special session regarding SNAP benefits on Nov. 10
SANTA FE, N.M. (KRQE) — New Mexico Gov. Michelle Lujan Grisham announced on Thursday afternoon that she is calling a special legislative session to extend state-funded food benefits back to New Mexicans. This session on Monday, Nov. 10 at the State Capitol in Santa Fe is expected to last one day.
The session is happening 10 days after the governor released $30 million in emergency state funding to New Mexico residents using SNAP. This funding will run out on Monday, according to the governor’s office.
House Republican Leader Gail Armstrong issued this statement in response to the special session:
“We are being called into another special session because Senators Luján and Heinrich are refusing to fund SNAP benefits for the neediest New Mexicans. I would much prefer the Governor use her authority and influence to urge our Senate delegation to end this crisis by voting to reopen the federal government. Instead, they are holding vulnerable New Mexicans hostage for political leverage. The people of this state deserve more than the costly and dangerous political games Senators Luján and Heinrich continue to play.”
Lt. Gov. Howie Morales is expected to serve as acting governor during the special session, while Gov. Grisham attends the U.N. Climate Change Conference.
New Mexico
How one family is feeling the impact of the longest government shutdown
Many families across the country are feeling hopeless as federal employees continue to work without pay during what is now the longest government shutdown ever.
ALBUQUERQUE, N.M. – Many families across the country are feeling hopeless as federal employees continue to work without pay during what is now the longest government shutdown ever.
A New Mexico man, Jason Richards, reached out to KOB 4 sharing his frustration with Congress. Richards has a unique experience with shutdowns, going through several during his 21 year career as a Chief of Interpretation for the National Park Service.
For Richards, seeing the Petroglyph National Monument gates locked brought some tears to his eyes.
“It makes me emotional. It does. It’s sad, but it’s Congress’s fault. It’s not the American people’s fault. It’s Congress. Both sides are guilty,” said Richards.
Richards told us while some trails remain open, he’s worried for the safety of visitors and the public lands themselves as park rangers are not able to work full-time due to the shutdown.
“That’s my land out there. That’s your land out there. That’s our cameraman’s land out there,” Richards said. “It doesn’t belong to Congress. It belongs to the American people. Tear the gate down.”
A multi-generational problem
The pain is personal as Richards’ daughter followed in his footsteps and now works for the National Park Service on the East Coast. She hasn’t seen a paycheck since before the shutdown.
“She’s calling me and crying, saying, ‘Daddy, I don’t know what to do. I can’t pay my mortgage. I’m having hard time with getting food on the table.’ And her husband works for the government also.”
KOB 4 also spoke to his daughter, Amberleigh Leitenberger, on the phone Wednesday afternoon. She told us, “I’m extremely passionate about the Park Service and the Park Service mission and being second generation is really important to me. But, it’s very difficult to have to go through this repeatedly.”
When we asked Richards if there is any hope left for him and his daughter, he said, “No, there isn’t.”
Richards says he only asks now for Congress to listen to the American people and do what is best for them, not their agendas.
-
Milwaukee, WI1 week agoLongtime anchor Shannon Sims is leaving Milwaukee’s WTMJ-TV (Channel 4)
-
Culture1 week agoVideo: Dissecting Three Stephen King Adaptations
-
Austin, TX2 days agoHalf-naked woman was allegedly tortured and chained in Texas backyard for months by five ‘friends’ who didn’t ‘like her anymore’
-
Seattle, WA1 week agoFOX 13’s Aaron Levine wins back-to-back Jeopardy! episodes
-
Seattle, WA5 days agoESPN scoop adds another intriguing name to Seahawks chatter before NFL trade deadline
-
Education1 week agoOpinion | New York City Mayoral Candidates: Who Would Be Best?
-
San Diego, CA1 week agoAdd Nick Hundley, Ruben Niebla to list of Padres’ managerial finalists
-
Business1 week ago
Disneyland Resort lays off 100 people in Anaheim