On Wednesday, December 19, 2018, the New Mexico Public Regulation Commission in a 5-0 vote approved PNM's application to join the Western Energy Imbalance Market. The vote granted PNM's request for joining the EIM to be treated as a regulatory asset which will allow PNM cost recovery. Under the operation of CAISO, it is anticipated that PNM will join the WEIM in April of 2021. It will allow PNM to buy and sell electricity on an intra-hour basis, in increments as small as 5-15 minute intervals, resulting in more effective use of its generation resources including renewable energy resources. Savings will be passed onto customers through PNM's fuel adjustment clause and may range in the $10M or more range per year. An order is expected from the NM PRC on December 20, 2018. More information is available through the PRC website in Case No. 18-00261-UT.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.