[Lwvcnmtopics] NM PRC meeting 3.10

[George Richmond]

Remember that in the period Feb 11-18, the cold spell cause some sharp 
increase in natural gas prices, particularly in TX where NM utilities 
get their gas.

Today, Southwestern Public Service, (SPS)one of the three IOU or 
Investor Owned Utilities providing electric service in NM, said that 
because of the price spike, the March bill for an average customer would 
go up $40.  However, the company would like to have a plan to charge 
1/24 of the increase over the next 24 months and the company would bear 
the costs of carrying the debt.

The NM PRC will issue an order to allow this and expects other IOU and 
Gas utilities to ask the NM PRC to do the same or close to it.

SPS operates in the SE part of NM from the Clovis area south and also in 
TX from about Lubbock and north.  It is a subsidiary of Xcel Energy  
which provides service in several Great Plains/Midwestern states.

The NM PRC is proposing to ask all of its regulated electric/gas 
utilities and the 20 Electric Co-Ops about their experience with the 
price spike last month but will try to get the questions being asking by 
the NM Attorney General to avoid duplication.  A member of the NM AG may 
present next week to the NM PRC

Here is an example of the problem of the TX price spike:


  Texas Crisis Drives First Nonprofit Utility Bankruptcy, With More
  Fallout Expected

A co-op seeks shelter from $2 billion in electricity costs, the state 
sues a shut-down Griddy, and a San Antonio utility may pull back on its 
clean energy goals.

To read the full article: 
https://www.greentechmedia.com/articles/read/texas-crisis-drives-first-public-power-bankruptcy-with-more-fallout-expected?utm_medium=email&utm_source=Daily&utm_campaign=GTMDaily

George Richmond

Observer to the NM Public Regulation Commission

-- 
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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