New Mexico’s Largest Electric Utility Admits “Miscalculation” on Controversial Renewable Plan

September 27, 2019

Forcing a transition to renewables is going to cost more than we thought. Where have we heard that before?

In a little-noticed press release a few weeks ago, the Public Service Company of New Mexico (PNM) sent out a press release admitting a miscalculation in their plans. As part of PNM’s plans to transition to the controversial Energy Transition Act, the utility put forth several ideas on how they plan to retire reliable energy and put New Mexicans out of work. Now, PNM admits that figuring out costs to New Mexico’s families is harder than they thought:

“Although these miscalculations don’t impact the recommendations in the case, they minimally reduce estimated customer savings.” 

Of course, PNM is still pushing the idea the transition will save customers money, despite research that proves otherwise.

What’s most interesting about PNM admitting their “miscalculation” is that the September 12 press release is nowhere to be found on their news page.

Press release touting their CEO getting an award? Posted.

Press release admitting they “miscalculated” the cost of renewable power? Nowhere to be seen.

Keep in mind, PNM’s support of the Energy Transition Act played a key role in passing the bill. Which begs the question, if they didn’t have the numbers right when they passed the law, how flawed is the Energy Transition Act?