The plan scales up the utility’s programs, with PNM striving to increase energy savings achieved by its customers by around 50% during 2021-23 compared to savings achieved from programs implemented during 2018-20.
“The new plan takes energy efficiency efforts in New Mexico to the next level. It is designed to help customers achieve more energy savings than ever before. Even with the falling costs for power generation, energy efficiency remains the most cost-effective energy resource available to PNM and its customers,” said Howard Geller, Executive Director of the Southwest Energy Efficiency Project (SWEEP).
The expansion of PNM’s energy efficiency programs came in response to new energy savings targets and other policies adopted by the New Mexico legislature in 2019. This legislation requires PNM to achieve a minimum of 5% energy savings (as a fraction of the company’s retail electricity sales) from programs implemented during 2021-25.
“PNM’s new energy efficiency plan is designed to provide $25 million in net economic benefits for the company and its customers,” said Tammy Fiebelkorn, SWEEP’s New Mexico Representative. “At the same time, implementing the plan will reduce reliance on coal- and natural gas-fired power plants thereby cutting air pollution and helping the state meet is climate goals.”
“Promoting greater energy efficiency is good for the economy and good for the environment. I commend PNM for submitting a strong plan and for working with SWEEP and other interveners to improve the plan after it was filed, and the PRC for approving the enhanced plan,” Geller stated.