CLARIFY RENEWABLE ENERGY PORTFOLIO STANDARDS

HB 452 clarifies how New Mexico utilities must handle renewable energy certificates (RECs) to meet the state's renewable energy standards. It specifies that utilities own RECs from most renewable energy they purchase, except for pre-July 2019 contracts or community solar projects (where the utility owns the RECs). The bill requires new contracts (after July 1, 2019) to transfer RECs to the utility, which must retire them or transfer them to customers under a voluntary program, and mandates annual reporting on REC usage and accounting.