NMPRC approves PNM Grid Modernization Plan

Core Points - The New Mexico Public Regulation Commission (NMPRC) approved Public Service Company of New Mexico's (PNM) application for grid modernization, focusing on resilience, reliability, efficiency, and decarbonization [1][2] - The plan includes a six-year investment of $344 million, aimed at enhancing customer service through smart meters and enabling a clean energy transition in New Mexico [2] Investment and Implementation - The approved plan is part of a longer-term strategy for grid modernization, which will facilitate two-way communication on the grid, providing customers with insights into their energy usage [1] - The deployment of smart meters and upgrades will prioritize low-income and underserved communities, ensuring equitable access to clean energy opportunities [2] Regulatory Context - The investments are supported by a cost-benefit analysis and align with New Mexico's grid modernization legislation passed in 2020, with costs to be recovered through an annually reviewed tariff rider [2]