Statement on Repeal of New Mexico Carbon Cap

March 16, 2012

"The public policy goal of reducing carbon emissions is an important goal that we support. However, we believe the best approach lies in a mandatory, market-based federal solution - an idea reflected in U.S. Senator Jeff Bingaman's recently proposed national clean energy standard.

"A thoughtful federal approach is a significantly better way to meaningfully reduce carbon emissions and keep costs as low as possible for customers while not disadvantaging any one state."

- Pat Vincent-Collawn, Chairman, President & CEO, PNM Resources