PNM Sky Blue®:
Today, more than 13,000 customers voluntarily purchase 130 gigawatt-hours of wind energy generated by the New Mexico Wind Energy Center each year.
The current cost of that energy is $0.0052 per kilowatt-hour (kWh) above regular rates.
If the Commission approves the PNM Sky Blue proposal that was submitted, the program will:
- Provide for the purchase of renewable energy credits (REC) from a blend of both wind energy and solar energy generated in New Mexico.
- The proposed cost will be set at $0.02 per kWh above regular rates and will not change.
- Each year we will go out to the marketplace to purchase new RECs at market prices to maintain the same cost, giving customers who participate price certainty.
- Once a change to the program has been approved – which has not happened yet – we will communicate directly with all PNM Sky Blue subscribers.
- Subscribers will need to opt into the new program.
- They will be given the choice to stay at approximately the same cost they are currently paying, or they can elect to change to more or fewer blocks.
- The block size of 100 kWh will remain the same. Percentage options will be available as well.
- Until there is a change, subscribing customers do not need to take any action.
Benefits of proposal
- Our subscribers will be supporting the development of solar energy in the state, not just wind energy. We will be purchasing RECs we would not purchase otherwise except for their support.
- We will be able to use the wind generated at the New Mexico Wind Energy Center, our least expensive renewable energy resource, for our mandated renewable program. This reduces the cost of the program for which all customers pay. The lower the costs, the more renewable energy we can add.
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