The bill aims to enhance New Mexico's electric grid through the establishment of a Grid Modernization Roadmap and Grant Program. It mandates the Energy, Minerals and Natural Resources Department, in collaboration with the Public Regulation Commission, to create a detailed roadmap outlining priorities and strategies for modernizing the state's electric grid. The bill expands the eligibility for grant proposals to include school districts and charter schools, alongside municipalities, state agencies, universities, and Indian nations. Additionally, it amends the definition of "grid modernization" to encompass a broader range of improvements to electric distribution and transmission infrastructure, including advanced metering, intelligent grid devices, and energy storage systems.

The grant program will prioritize projects that improve efficiency, reliability, and resilience of the electric grid while fostering economic development and job creation. Grants will be awarded competitively, with a preference for proposals that leverage matching funds from non-state sources. Projects must coordinate with local electric service providers to ensure they do not negatively impact grid performance. The department is also required to report to the legislative finance committee on grant recipients and project outcomes, emphasizing their contributions to grid modernization and overall electric grid security.

Statutes affected:
introduced version: 71-11-1
Final Version: 71-11-1