The bill establishes a framework for public utilities in New Mexico to file advanced grid technology plans with the Public Regulation Commission (PRC). These plans must be submitted alongside the utilities' integrated resource plans and can include projects aimed at alleviating transmission-line congestion, enhancing grid reliability, and integrating renewable energy sources. The bill outlines specific requirements for the content of these plans, including cost estimates and a cost-effectiveness analysis. Additionally, it allows utilities to recover reasonable costs associated with approved projects through tariff riders or base rates, with certain conditions regarding federal jurisdiction and exemptions for distribution cooperatives.

The bill also introduces new definitions related to advanced grid technologies, such as "advanced conductor," "dynamic line ratings," and "grid enhancing technology," which are essential for understanding the technologies that will be implemented. Furthermore, it amends existing definitions in the Efficient Use of Energy Act to incorporate these new terms. The effective date for the provisions of this act is set for July 1, 2025. Overall, the legislation aims to modernize the state's utility infrastructure while promoting energy efficiency and sustainability.

Statutes affected:
introduced version: 62-17-4, 62-17-10, 62-17-11