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News Release
June 17, 2003
PNM Lowers Price of Renewable Energy
Albuquerque: The price of renewable energy for PNM
customers will be lower than previously proposed if a PNM
plan being filed today with state regulators is approved.
PNM, the staff of the state Public Regulation Commission
and the nonprofit Coalition for Clean, Affordable Energy (CCAE)
have come to agreement on the terms of PNM's proposed renewable
energy tariff, which would allow PNM's electric customers
to voluntarily purchase renewable energy for a small monthly
premium.
Under the proposal, which still needs PRC approval, residential
and business customers can voluntarily purchase renewable
energy for an additional 1.8 cents per kilowatt hour. PNM
had previously proposed a price of 2.5 cents per kilowatt
hour.
"This proposal gives us an extremely competitive renewable
energy package," said Bill Real, PNM senior vice president
for public policy. "We believe this will be a cost-effective
and appealing way for customers to voice their support for
growing a strong renewable energy industry in New Mexico.
"Equally important, this renewable energy package is
an expression of our long-term environmental strategy to enhance
the air quality of New Mexico," Real added.
Real said the company agreed to the lower price in order
to speed consideration of the tariff. PNM hopes broad support
of the tariff will allow the company to offer renewable energy
to customers as soon as October.
PNM plans to meet initial customer demand for renewable energy
with electricity from the New Mexico Wind Energy Center, the
world's third-largest wind generation facility, now under
construction in eastern New Mexico. That facility is expected
to be producing power by the third quarter of this year. More
than 75 of 136 turbines planned for the site are now complete.
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