PNM has filed its 2017 Renewable Energy Act (REA) Plan with the Public Regulation Commission. For 2017-2018, PNM must meet a 15% renewables requirement. (Effective requirements are closer to 13% of retail sales, based on large customer adjustments and exemptions). PNM has not proposed to acquire any new renewables because it anticipates that it has sufficient resources to meet total requirements and requirements for resource diversity. However, it seeks to extend its customer-sited solar program.
PNM’s 2017 REA Plan includes the following proposals:
- A three-year extension of the Customer Solar REC Purchase Program (CSPP) for customer-sited DG up to 100 kW. PNM would purchase 3 MW per year (2017-2019) at a rate of $0.0025/kWh under an eight-year contract. (The program is currently scheduled to expire on December 31.)
- A cost cap of $3/MWh per REC for any RECs that PNM needs to purchase in 2018 to make up for any deficiencies to meet 2017 requirements.
- A variance to exceed the Reasonable Cost Threshold test, which is the 3% retail rate limit.