{"data":{"id":"us-nm/62-16-2","jurisdiction":"us-nm","citation":"62-16-2","heading":"Findings and purposes.","body":"A. The legislature finds that:\n(1) the generation of electricity through the use of renewable energy presents opportunities to promote energy self-sufficiency, preserve the state's natural resources and pursue an improved environment in New Mexico;\n(2) the use of renewable energy by public utilities subject to commission oversight in accordance with the Renewable Energy Act can bring significant economic benefits to New Mexico;\n(3) public utilities should be required to include prescribed amounts of renewable energy in their electric energy supply portfolios for sales to retail customers in New Mexico by prescribed dates;\n(4) public utilities should be able to recover their reasonable costs incurred to procure or generate energy from renewable energy resources used to meet the requirements of the Renewable Energy Act;\n(5) a public utility should have incentives to go beyond the minimum requirements of the renewable portfolio standard;\n(6) public utilities should not be required to acquire energy generated from renewable energy resources that could result in costs above a reasonable cost threshold; and\n(7) it may serve the public interest for public utilities to participate in national or regional renewable energy trading.\nB. The purposes of the Renewable Energy Act are to:\n(1) prescribe the amounts of renewable energy resources that public utilities shall include in their electric energy supply portfolios for sales to retail customers in New Mexico by prescribed dates;\n(2) allow public utilities to recover costs through the rate-making process incurred for procuring or generating renewable energy used to comply with the prescribed amount; and\n(3) protect public utilities and their ratepayers from renewable energy costs that are above a reasonable cost threshold.","path":["Chapter 62 - Electric, Gas and Water Utilities","ARTICLE 16 Renewable Energy Act"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18565/index.do","current_through":"2026-05-20","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"1259e85af7089eb00a75cc44269536e373c698b2481a491525dd1f2cbc6a190e","source_id":"us-nm","stale":false,"prev":"us-nm/62-16-1","next":"us-nm/62-16-3"},"notice":"GroundRules: Original legal text. Not legal advice."}