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.
ALBUQUERQUE, N.M. — Country Music Hall of Fame inductee Tanya Tucker will perform at the 2026 New Mexico State Fair, officials announced Tuesday.
Tucker will take to the stage Friday, Sept. 18, after the Chevron PRCA rodeo. The Grammy Award-winning icon has racked up 10 No. 1 country hits since her first hit, “Delta Dawn,” at age 13.
“We couldn’t be more thrilled to bring the legendary Tanya Tucker to the New Mexico State Fair,” said Dan Mourning, general manager of the New Mexico State Fair. “Tanya is one of the greatest icons in country music history and is the perfect fit for the Fair.”
Tucker has 23 Top-40 albums and 56 Top 40 singles on the Billboard country music charts. She has won two Country Music Association awards, two Academy of Country Music awards, three CMT Awards and two Grammys for Best Country Album and Best Country Song.
Tickets are set to go on sale on Friday at 10 a.m.
Here is the full 2026 New Mexico State Fair rodeo-concert lineup:
Friday, Sept. 11
Turnpike Troubadours with Chevron PRCA Xtreme Bulls
Saturday, Sept. 12
Ian Munsick with Chevron PRCA Xtreme Bulls
Wednesday, Sept. 16
Chevron PRCA Standalone Rodeo
Thursday, Sept. 17
Everclear with Chevron PRCA Rodeo
Friday, Sept. 18
Tanya Tucker with Chevron PRCA Rodeo
Saturday, Sept. 19
The Warning with Chevron PRCA Rodeo
Sunday, Sept. 20
Chevron PRCA Rodeo – Matinee
SANTA FE, N.M. (AP) — State investigators began searching a secluded ranch in New Mexico on Monday where financier and sex offender Jeffrey Epstein once entertained guests amid allegations that the property may have been used for sexual abuse and sex trafficking of young women.
The office of state Attorney General Raúl Torrez announced that the search was being done with the cooperation of the current ranch owners.
Torrez last month reopened an investigation of the ranch. New Mexico’s initial case was closed in 2019 at the request of federal prosecutors in New York, and state prosecutors say now that “revelations outlined in the previously sealed FBI files warrant further examination.”
Epstein purchased the sprawling Zorro Ranch in Stanley, New Mexico, about 30 miles (48 kilometers) south of Santa Fe, in 1993 from former Democratic Gov. Bruce King and built a hilltop mansion with a private runway.
The property was sold by Epstein’s estate in 2023 — with proceeds going toward creditors — to the family of Don Huffines, a candidate in Texas for state comptroller who won the Republican primary last week.
“The New Mexico Department of Justice appreciates the cooperation of the current property owners,” the agency said in a statement. Prosecutors “will continue to keep the public appropriately informed, support the survivors, and follow the facts wherever they lead.”
Additionally, New Mexico state legislators have established a new commission to look into past activities at the ranch.
Epstein killed himself in a Manhattan jail while awaiting trial in 2019 on charges that he sexually abused and trafficked dozens of underage girls.
Epstein never faced charges in New Mexico, but the state attorney general’s office in 2019 confirmed that it had interviewed possible victims who visited Epstein’s ranch.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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