New Mexico panel OKs abandonment of coal-fired power plant | KOB 4
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New Mexico panel OKs abandonment of coal-fired power plant

The Associated Press
Created: April 01, 2020 05:51 PM

ALBUQUERQUE, N.M. (AP) — New Mexico regulators have green-lighted an application by the state's largest electric utility to abandon its interest in a major coal-fired power plant.

The Public Regulation Commission on Wednesday voted unanimously in favor of letting Public Service Co. of New Mexico divest from the San Juan Generating Station.

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The commission also approved an order allowing the utility to issue $360 million in bonds to fund decommissioning costs, severance packages for displaced workers and job training programs.

The bonds will be paid off by utility customers.

The votes came after a delay in the online proceeding that resulted from an outburst by a group of young people that included epithet-laden chat messages and rap music.


(Copyright 2020 by The Associated Press. All Rights Reserved.)

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