New Mexico

IEEFA Research

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

Commission’s 21-year-old pipeline policy puts contracts ahead of utility customers

December 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

IEEFA U.S.: Colorado electric wholesaler is alienating cost-conscious co-ops with its fossil commitments

IEEFA U.S.: Colorado electric wholesaler is alienating cost-conscious co-ops with its fossil commitments

Tri-State currently plans using coal through 2050 and expanding into gas; projected rate increases of 55% by 2050

Nov. 17, 2020 (IEEFA) — One of the biggest power suppliers to rural electric co-ops in the U.S. is putting its business model at risk as members clamor for better access to renewable energy, more affordable rates, and more say in how they buy or produce power, concludes a report released today by the Institute […]

and November 17, 2020 Read More →
IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves

October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]

IEEFA: New Mexico’s biggest utility moves forcefully toward solar

IEEFA: New Mexico’s biggest utility moves forcefully toward solar

Four projects totaling 950 megawatts will replace San Juan Generating Station; likelihood of coal plant carbon-capture retrofit further diminished

October 12, 2020 (IEEFA) — An aggressive expansion into utility-scale solar by Public Service Company of New Mexico will replace all of the power PNM will lose when the coal-fired San Juan Generating Station (SJGS) closes in June 2022, concludes a research brief published today by the Institute for Energy Economics and Financial Analysis. PNM’s […]

and October 12, 2020 Read More →
IEEFA update: Dwindling odds of success for retrofit of New Mexico coal plant with carbon capture

IEEFA update: Dwindling odds of success for retrofit of New Mexico coal plant with carbon capture

Barriers include recent failure of similar experimental project, oppositional market forces, no known investors, no customer base, nowhere to sequester emissions

Sept. 16, 2020 (IEEFA) — The proposed retrofit with carbon capture technology of a coal-fired power plant in San Juan County, N.M., shows dwindling chances of success, according to a briefing note released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The analysis concludes that the plan is most likely a lost […]

IEEFA U.S.: Mothballing of Petra Nova carbon capture project shows likely fate of other coal-fired CCS initiatives

IEEFA U.S.: Mothballing of Petra Nova carbon capture project shows likely fate of other coal-fired CCS initiatives

Red flags for investors - risks for Enchant Energy’s initiative in New Mexico and Project Tundra in North Dakota

August 3, 2020 (IEEFA) — A research brief published today by the Institute for Energy Economics and Financial Analysis (IEEFA) concludes that the abrupt recent shutdown of the Petra Nova coal-fired carbon capture plant in Texas should be seen as a strong signal for investors to avoid such projects. The report—Petra Nova Mothballing Post-Mortem: Closure […]

IEEFA U.S: NTEC acquisition of aging Four Corners coal plant would constitute ‘another expensive mistake’

IEEFA U.S: NTEC acquisition of aging Four Corners coal plant would constitute ‘another expensive mistake’

Report: Throwing good money after bad in New Mexico

July 15, 2020 (IEEFA) — The Navajo Transitional Energy Company (NTEC) would lose at least $350 million over the next 10 years if it proceeds with a proposal to expand its stake in the ailing Four Corners power plant, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). NTEC, according […]

IEEFA report: Utility-scale solar remains off-limits on most of more than 100 million federally-owned acres across solar-rich Southwest U.S.

IEEFA report: Utility-scale solar remains off-limits on most of more than 100 million federally-owned acres across solar-rich Southwest U.S.

Outdated policies and byzantine processes at Bureau of Land Management hinder energy transition

June 16, 2020 (IEEFA U.S.) ‒ The largest property owner in the U.S.—the Bureau of Land Management (BLM)—has acreage set aside for utility-scale solar development on only 0.03% of the roughly 100 million acres it manages across the sun-rich Southwest, finds a report published today by the Institute for Energy Economics and Financial Analysis. The […]

IEEFA U.S.: Facebook’s green energy goals are speeding the transition of New Mexico’s electricity sector

IEEFA U.S.: Facebook’s green energy goals are speeding the transition of New Mexico’s electricity sector

Data Center power demand is driving a renewables push by PNM to top 40% in two years

May 14, 2020 (IEEFA) — Construction of a major data center in Los Lunas, N.M., has lifted the local economy and accelerated the state’s transition toward renewable-powered electricity, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report—Corporate Renewables Case Study: Facebook’s Green Energy Goals Are Speeding the […]

More News and Commentary

Pattern Energy begins construction of 1,050MW wind project and transmission line in New Mexico

Renewables Now: Pattern Energy Group LP has finalised the financing and launched full construction of its over-1-GW Western Spirit suite of wind projects in New Mexico. Construction has also kicked off on the Western Spirit Transmission Line, which is owned by the New Mexico Renewable Energy Transmission Authority (RETA) and is being co-developed by Pattern […]

January 5, 2021 Read More →

GenOn to close Morgantown coal-fired station, support Maryland just transition legislation

E&E News ($): One of the nation’s largest independent power producers has announced it is closing a coal plant in Maryland and is throwing its weight behind a bid to phase out coal-fired generation in the state entirely. GenOn Holdings Inc., a Houston-based firm, said it plans to retire its [1,205MW] Morgantown Generating Station in […]

December 22, 2020 Read More →

New Mexico regulators deny permit for utility gas project, cite state’s 2045 100% clean power law

S&P Global Market Intelligence ($): The New Mexico Public Regulation Commission on Dec. 16 denied a request by El Paso Electric Co. to build a 228-MW natural gas-fired plant because it will not meet the state’s 2045 net-zero goal, even though the company has already started construction on the facility. The commission’s hearing examiner, Elizabeth […]

December 18, 2020 Read More →
IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs
, and

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

Commission’s 21-year-old pipeline policy puts contracts ahead of utility customers

December 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]

Xcel Energy completes construction of 522MW Sagamore wind farm in New Mexico

Albuquerque Journal: A mammoth wind farm covering 156 square miles in eastern Roosevelt County will begin generating enough electricity later this month to power up about 194,000 homes. At 522 megawatts, Xcel Energy’s Sagamore Wind Farm is by far the largest to come online in New Mexico, offering at least 40% more generating capacity than […]

December 17, 2020 Read More →
IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now
, and

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

New Mexico regulators approve utility’s replacement power plans for closing San Juan coal plant

S&P Global Market Intelligence ($): The New Mexico Public Regulation Commission on Dec. 2 unanimously approved agreements between Public Service Co. of New Mexico and renewable energy developers for solar power paired with battery storage projects, as well as amendments to existing solar-plus-storage agreements. During a virtual meeting, the five commissioners approved, without changes, a […]

December 7, 2020 Read More →
IEEFA U.S.: Decline in coal exports adds to Navajo-owned company’s problems

IEEFA U.S.: Decline in coal exports adds to Navajo-owned company’s problems

Weak demand and low prices are likely creating steep losses for NTEC

U.S. coal exports to Asia—once heralded as the saving grace for struggling coal producers in the western United States—are facing new strains from low prices and weak demand in the wake of the global COVID-19 crisis.  In its third-quarter financial statement released earlier this month, Westshore Terminals in British Columbia, the primary terminal for U.S. thermal coal […]

IEEFA U.S.: Colorado electric wholesaler is alienating cost-conscious co-ops with its fossil commitments
and

IEEFA U.S.: Colorado electric wholesaler is alienating cost-conscious co-ops with its fossil commitments

Tri-State currently plans using coal through 2050 and expanding into gas; projected rate increases of 55% by 2050

Nov. 17, 2020 (IEEFA) — One of the biggest power suppliers to rural electric co-ops in the U.S. is putting its business model at risk as members clamor for better access to renewable energy, more affordable rates, and more say in how they buy or produce power, concludes a report released today by the Institute […]

and November 17, 2020 Read More →

U.S. developer Sunrun expects residential solar-plus-storage to be the new standard

S&P Global Market Intelligence ($): By extending its energy storage offering to all 19 states in which it operates, U.S. residential solar supplier Sunrun Inc. is positioning itself for “a market where in two, three years, every solar system has a battery,” CEO Lynn Jurich said. The company on Nov. 5 announced it would begin […]

November 9, 2020 Read More →