CCAE signs onto initial stipulation, Governor endorses efforts

(Albuquerque, NM) – On Tuesday, Public Service Company of New Mexico (PNM) and Avangrid filed a stipulation in its merger application before the New Mexico Public Regulation Commission (NMPRC) with the New Mexico Attorney General, Western Resource Advocates, International Brotherhood of Electrical Workers Local 611, Dine Citizens Against Ruining Our Environment, Nava Education Project, San Juan Citizens Alliance, and To Nizhoni Ani.

“We see other parties now looking at the enhanced customer, employee and environmental benefits of our stipulation to the proposed merger and we welcome the Coalition for Clean Affordable Energy to the growing list of signatories.” Pat Vincent Collawn, Chairman, President and CEO of PNM Resources, the parent company of PNM.

Coalition for Clean Affordable Energy (CCAE) has signed on to the Stipulation.

Today CCAE signed on as a signatory to the stipulation.

“This agreement provides major economic and environmental benefits to New Mexicans, with Avangrid committing to provide much-needed assistance to low-income customers through improved access to electricity service as well as dramatically increased energy efficiency programs. These low-income provisions, coupled with economic development funding, financial assistance to impacted indigenous communities, and job creation commitments, set a path forward for this merger that we are pleased to support,” said Tammy Fiebelkorn, NM Representative for Southwest Energy Efficiency Project (SWEEP), a member of CCAE.

Governor supports the stipulation process.

Governor Michele Lujan Grisham weighed in on the Stipulation efforts. “I’m glad the parties have come together to provide additional relief for New Mexico ratepayers while continuing to transition to a clean energy future for all New Mexicans,” said Governor Lujan Grisham.

Others are also applauding the stipulation:

“Our discussions with Avangrid have demonstrated the company’s commitment to comprehensively address climate change and its willingness to support policies that will benefit the economy and environment in New Mexico communities and beyond,” said Steve Michel, deputy director of Western Resource Advocates’ clean energy program.

“The legacy of pollution and generational harm to front-line communities from coal-fired energy generation cannot be solved overnight, but this stipulation represents a pathway to a different future, including ongoing dialogue with impacted communities and resources to help the region transition,” said Kyle Tisdel, attorney with the Western Environmental Law Center. “I applaud Avangrid, PNM, and Attorney General Balderas for listening and responding to Native voices and for their commitment to a more sustainable future.”

Recap of benefits under the stipulation.

If approved by the NMPRC, the agreement among the parties will bring over $250 million in benefits to New Mexico. Below are some of the key enhancements of the stipulation:

Customer Rate Benefits:

  • Customer rate benefits of $73 million (including an additional $10 million added to low income energy efficiency benefits)

Economic Development Benefits:

  • Economic development benefits approximating $200 million

Enhanced Environmental Benefits:

  • Create a Carbon Reduction Task Force and a new Chief Environmental Officer.

Maintaining Current Jobs, Low-Income Programs, and Charitable Leadership:

  • The stipulation commits to maintaining PNM jobs, with no reduction of wages or benefits to for a minimum of 3 years following the transaction.

Continue low income assistance programs:

  • The merger commitments ensure that the benefits PNM currently provides to its customers and communities in the past through its PNM Good Neighbor Fund or charitable giving will not be reduced, with a similar expectation for the PNM Resources Foundation’s separate charitable activities.

Local Management:

  • PNM will continue to be managed locally.

Financing and Ownership:

  • As stated in the original merger application, none of the merger costs will come from customers, and PNM and PNM Resources will not take on any new debt in conjunction with the proposed transaction.

PNM knows this merger is the right thing for our customers, employees, and our state. And we Stand ready to work with our parties to explain the enhanced benefits of the stipulation.

Click to search the Beat Click to search the Beat

Get Updates Three Times a Week

Welcome to the Update! You will receive emails 3 times a week with links to recently posted articles.

captcha 

You can unsubscribe anytime. We never share or rent your email to anyone.

Submitting to the Beat

Those new to providing news releases to the Beat are asked to please check out submission guidelines at https://www.grantcountybeat.com/about/submissions. They are for your information to make life easier on the readers, as well as for the editor.

Advertising: Don't forget to tell advertisers that you saw their ads on the Beat.

Classifieds: We have changed Classifieds to a cheaper and shorter option. Check periodically to see if any new ones have popped up. The former software failed us, so it's just a category now, with prices posted. Send your information to editor@grantcountybeat.com and we will post it as soon as we can. Instructions and prices are on the page.

Editor's Notes

Please Note in Classifieds a dog looking for a home. And now a well-loved cat is looking for a home.

Here for YOU: Consider the Beat your DAILY newspaper for up-to-date information about Grant County. It's at your fingertips! One Click to Local News. Thanks for your support for and your readership of Grant County's online news source—www.grantcountybeat.com

Feel free to notify editor@grantcountybeat.com if you notice any technical problems on the site. Your convenience is my desire for the Beat.  The Beat totally appreciates its readers and subscribers!  

Compliance: Because you are an esteemed member of The Grant County Beat readership, be assured that we at the Beat continue to do everything we can to be in full compliance with GDPR and pertinent US law, so that the information you have chosen to give to us cannot be compromised. 

Content on the Beat

WARNING: All articles and photos with a byline or photo credit are copyrighted to the author or photographer. You may not use any information found within the articles without asking permission AND giving attribution to the source. Photos can be requested and may incur a nominal fee for use personally or commercially.

Disclaimer: If you find errors in articles not written by the Beat team but sent to us from other content providers, please contact the writer, not the Beat. For example, obituaries are always provided by the funeral home or a family member. We can fix errors, but please give details on where the error is so we can find it. News releases from government and non-profit entities are posted generally without change, except for legal notices, which incur a small charge.

NOTE: If an article does not have a byline, it was written by someone not affiliated with the Beat and then sent to the Beat for posting.

Images: We have received complaints about large images blocking parts of other articles. If you encounter this problem, click on the title of the article you want to read and it will take you to that article's page, which shows only that article without any intruders. 

New Columnists: The Beat continues to bring you new columnists. And check out the old faithfuls who continue to provide content.

  • The Beat has a column for you gardeners out there. The Grant County Extension Service will bring you monthly columns on gardening issues.

Newsletter: If you opt in to the Join GCB Three Times Weekly Updates option at the top of this page, you will be subscribed to email notifications with links to recently posted articles.

Go to Top