The bill amends Section 62-18-4 of the New Mexico Statutes to establish that a qualifying utility that is abandoning or has abandoned a qualifying generating facility will not be eligible to apply for recovery of energy transition costs if it is also investing in, constructing, acquiring, or operating new natural gas resources. This provision aims to prevent utilities from benefiting from energy transition cost recovery while simultaneously expanding their natural gas operations.

Additionally, the bill includes several amendments to the application process for financing orders related to energy transition costs. It specifies that the application must include detailed estimates of costs, a description of the proposed adjustment mechanism, and a commitment to provide updated financial information post-issuance of energy transition bonds. The bill also clarifies that if a utility does not recover energy transition costs under the Energy Transition Act, it may seek recovery through other provisions of the Public Utility Act, with a specific exception for those utilities involved with new natural gas resources.

Statutes affected:
introduced version: 62-18-4