New Mexico regulators reject utility’s effort to recoup some investments in coal and nuclear plants

By SUSAN MONTOYA BRYAN
Associated Press

ALBUQUERQUE, N.M. (AP) — Regulators have rejected 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. The Public Regulation Commission issued its decision Wednesday. It means Public Service Co. of New Mexico customers will not have to bear some costs associated with the company’s stake in the Four Corners Power Plant near Farmington or in the Palo Verde Nuclear Generating Station in Arizona. Commissioners determined those investments were imprudent. Overall, residential customers will see a decrease in rates instead of the 9.7% increase that the utility was seeking.