July 31, 2015
PNM Files Final Signatures and Supporting Materials for San Juan Plan with NMPRC
All Agreements are Signed and Executed
Albuquerque: PNM today filed with the New Mexico Public Regulation Commission (NMPRC) the signed and executed signature pages for the final ownership restructuring agreements, the supporting testimony and other materials regarding the company's plan for San Juan Generating Station (SJGS). The filing is in compliance with the Aug. 1 deadline imposed by the Commission, and contains all documents requested by the commission that have not already been filed by PNM.
"We have now filed all of the final documents concerning our plan for San Juan, and collectively the information reinforces the fact that it is the best and lowest-cost path forward for our customers and the state," said Pat Vincent-Collawn, PNM chairman, president and CEO.
On July 1, PNM filed the coal supply agreement and the purchase and sale agreement for San Juan Mine between BHP Billiton and Westmoreland Coal Company. Combined, the agreements will reduce the cost to customers by more than $300 million over six years, about a 5 percent savings for customers beginning in 2016. The ownership restructuring and coal supply agreements not only increase the value to customers of the PNM plan, the benefits further distance the plan from more costly alternatives.
According to the procedural schedule set by the NMPRC Hearing Examiner in the case, staff and intervenor testimony is due Sept. 3, rebuttal testimony is due Sept. 18, and the hearing is scheduled to begin Sept. 30.
With headquarters in Albuquerque, PNM is the largest electricity provider in New Mexico, serving more than 500,000 customers in dozens of communities across the state. PNM is a subsidiary of PNM Resources, an energy holding company also headquartered in Albuquerque. For more information, visit PNM.com.