{"data":{"id":"us-nm/62-18-11","jurisdiction":"us-nm","citation":"62-18-11","heading":"Commission treatment of energy transition bonds.","body":"A. If the commission issues a financing order, the commission shall not treat:\n(1) energy transition bonds issued pursuant to the financing order as debt of the qualifying utility;\n(2) the energy transition charges paid under the financing order as revenue of the qualifying utility; or\n(3) the energy transition costs to be financed by energy transition bonds as costs of the qualifying utility.\nB. 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:\n(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;\n(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;\n(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\n(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.\nC. 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.","path":["Chapter 62 - Electric, Gas and Water Utilities","ARTICLE 18 Energy Transition"],"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":"b79810a56f412c4503dbddaf3542d2aef3942c1e95de9080198fdc9eb73da006","source_id":"us-nm","stale":false,"prev":"us-nm/62-18-10","next":"us-nm/62-18-12"},"notice":"GroundRules: Original legal text. Not legal advice."}