New Mexico § 62-18-11 Commission treatment of energy transition bonds

New Mexico Statutes

§ 62-18-11 — Commission treatment of energy transition bonds

New Mexico § 62-18-11

Ch. 62Electric, Gas and Water Utilities

Art. 18Energy Transition

This text of New Mexico § 62-18-11 (Commission treatment of energy transition bonds) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 62-18-11 (2026).

Text

A. If the commission issues a financing order, the commission shall not treat:

(1)energy transition bonds issued pursuant to the financing order as debt of the qualifying utility;

(2)the energy transition charges paid under the financing order as revenue of the qualifying utility; or (3) the energy transition costs to be financed by energy transition bonds as costs of the qualifying utility. B. Reasonable actions taken by a qualifying utility to comply with the financing order shall be deemed to be just and reasonable for ratemaking purposes. Nothing in the Energy Transition Act shall:

(1)prevent or preclude the commission from investigating the compliance of a qualifying utility with the terms and conditions of a financing order and requiring compliance therewith;

(2)prevent or preclu

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A. If the commission issues a financing order, the commission shall not treat: (1) energy transition bonds issued pursuant to the financing order as debt of the qualifying utility; (2) the energy transition charges paid under the financing order as revenue of the qualifying utility; or (3) the energy transition costs to be financed by energy transition bonds as costs of the qualifying utility. B. Reasonable actions taken by a qualifying utility to comply with the financing order shall be deemed to be just and reasonable for ratemaking purposes. Nothing in the Energy Transition Act shall: (1) prevent or preclude the commission from investigating the compliance of a qualifying utility with the terms and conditions of a financing order and requiring compliance therewith; (2) prevent or preclude the commission from imposing regulatory sanctions against a qualifying utility for failure to comply with the terms and conditions of a financing order or the requirements of the Energy Transition Act; (3) affect the authority of the commission to apply the adjustment mechanism as provided in Section 6 [62-18-6 NMSA 1978] of the Energy Transition Act; or (4) prevent or preclude the commission from including the qualifying utility's acquisition of replacement power resources in the qualifying utility's cost of service. C. The commission shall not order or require a qualifying utility to issue energy transition bonds to finance any costs associated with abandonment of a qualifying generating facility. A utility's decision not to issue energy transition bonds shall not be a basis for the commission to refuse to allow a qualifying utility to recover energy transition costs in an otherwise permissible fashion, or as a basis to refuse or condition authorization to issue securities pursuant to Sections 62-6-6 and 62-6-7 NMSA 1978.