Energy

HB 303 requires New Mexico public utilities to obtain a certificate from the Public Regulation Commission before providing new service or extending systems, with limited exceptions for existing service areas or routine business expansions. It specifically mandates that energy storage projects be approved if they reduce costs, cut fossil fuel use during peak demand, improve grid reliability with renewables, and lower emissions. The bill sets strict deadlines for commission decisions (six months for energy storage projects, nine months otherwise), with automatic approval if deadlines are missed. The law takes immediate effect as an emergency measure.

HB 254 modifies New Mexico's utility cost test to allow investor-owned electric utilities to include the value of avoided greenhouse gas emissions when determining if energy efficiency programs are cost-effective. This change directly affects investor-owned utilities by enabling them to count reduced emissions as a financial benefit in cost-benefit analyses for energy-saving programs. The bill amends definitions and procedures in the Efficient Use of Energy Act, requiring the Public Regulation Commission to consider avoided emissions when evaluating whether utility programs meet the "utility cost test" standard. It does not mandate new emissions reductions but changes how existing programs are assessed for cost-effectiveness. The bill is currently pending before the House committees.

HB 154 updates the definition of "advanced energy product" for New Mexico's existing tax credit programs. It specifies that qualifying products include solar components (like panels and cells), wind turbine parts, battery materials, fusion machine components, and critical minerals (such as lithium and cobalt). This definition determines eligibility for the Advanced Energy Equipment Income Tax Credit and Corporate Income Tax Credit, which provide tax relief for manufacturers investing in qualifying facilities within New Mexico. The bill directly affects businesses producing these specific energy technologies who seek to claim the tax credits.