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SANTA FE- Yesterday, the New Mexico Public Regulation Commission lowered rates for New Mexico ratepayers by issuing an order to resolve an appeal related to the closure of the San Juan Generating Station. The Commission voted unanimously to approve an agreement that will have the parties dismiss the appeal and immediately return $115 million in rate credits to PNM ratepayers over the next 12 months. The order also allows PNM to issue bonds as contemplated in the Energy Transition Act and protects ratepayers if the interest rate on those bonds exceeds 5.5%.
