[Lwvcnmtopics] Article on ETA from Santa Fe New Mexican Dec 19

[George Richmond]

The Energy transition act which supplements the nm prc is not well 
understood.  i hope this helps.

MY VIEW CHUCK NOBLE


  The Energy Transition Act is proving its worth

With all the misery 2020 is leaving in its wake, it has also brought 
transformational climate and environmental-justice progress in New 
Mexico, thanks to the work of front-line community members and 
implementation of the Energy Transition Act.

As the now-retired attorney for Coalition for Clean, Affordable Energy, 
I was proud to see broad support by community and environmental groups 
at the Public Regulation Commission for our proposal to replace the coal 
power at San Juan Generating Station with 100 percent solar energy and 
battery storage, investing $1.1 billion in San Juan, McKinley and Rio 
Arriba counties.

The PRC unanimously decided in July to adopt our coalition’s 
solar/storage proposal over PNM’s preferred plan, which had relied 
heavily on gas. Now that the contracts have been signed and approved, 
the calculation of average monthly savings has been revealed: $7.46.

Yes, the average PNM customer will/save/$7.46 per month because of the 
transition from coal to clean. Why? Because renewables are cheaper than 
coal, and because the Energy Transition Act allowed plant debt that 
customers have been paying back to PNM at a 10 percent rate of return to 
be paid off through AAA bonds at roughly 3 percent instead.

Those savings create millions in Four Corners transition funding, 
including severance and job-training funds for coal workers that would 
have been unavailable without the ETA.

Shiprock High School students encouraged the PRC to approve our 
coalition’s solar/storage plan because of the tax income it will provide 
for their school. Jicarilla Apache Nation President Darrell Paiz 
testified about the economic boost from the Hecate solar facility that 
will be built on Jicarilla land in Rio Arriba.

Input like that from Navajo Nation, San Juan, Rio Arriba and McKinley 
County residents, in addition to hearing examiners’ guidance, helped 
lead commissioners to choose this powerful path forward.

Under prior law, the PRC had only a utility’s resource selection (PNM’s 
gas-reliant plan) to approve or reject. But the Energy Transition Act 
expanded the PRC’s authority to allow it to select different replacement 
resources.

The ETA’s guidance on location and environmental impact of replacement 
power made the coalition’s portfolio the clear choice because it places 
about $447 million of investment in the school district impacted by the 
plant closing — almost triple the investment of the gas-heavy portfolio.

Under prior law, the choice would have been PNM’s gas-reliant plan, 
which by a slim margin was projected to be cheapest. That would have 
resulted in more fossil fuels, more pollution and more CO2 (but not more 
jobs).

The outcomes already are apparent. This summer, the Rio Arriba County 
Commission announced that despite pandemic-reduced revenue, the county 
wouldn’t have to cut public services or employee hours because of $1.6 
million in payments in lieu of taxes from solar developers.

The ETA, which requires utilities to provide 80 percent renewable energy 
by 2040 and 100 percent carbon-free by 2045, is making a difference in 
other cases, too.

Our coalition successfully opposed El Paso Electric’s attempt to build 
an unnecessary gas generator near Chaparral, where families already 
endure dangerous air-pollution levels.

The ETA has proved itself a win for all, delivering clean energy, 
investment in the community, funding for workers and impacted 
communities, and savings for ratepayers while maintaining the financial 
integrity of the utility with low-interest bonds to pay off the plant’s 
balance — as promised.

As a lawyer fighting for clean energy and a safer climate for all, I’m 
more thankful for the Energy Transition Act every day.

/Chuck Noble is a retired environmental and public utility attorney who 
represented Coalition for Clean Affordable Energy until last spring/

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Have a great holiday,


George Richmond

-- 
George M. Richmond
152 Juniper Hill Road, NE
Albuquerque, NM 87122-1913

C: 505-280-2105
E: geomrich1 at comcast.net



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