New Mexico regulators attempt to bypass San Juan securitization, to PNM's surprise

Utility Dive: The Energy Transition Act was widely accepted by stakeholders, including the state's largest utility, environment and labor groups. Securitization was widely seen by those groups as one of the keys to transitioning the state's coal-heavy economy toward clean energy sources.

PNM filed its plans for closure to regulators July 1, but on Wednesday, the commission surprised the utility by splitting the replacement and abandonment portions of its filing, and placing the abandonment proceeding into a January docket originally intended to address that provision.

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