PNM files technology-inclusive grid modernization plan with New Mexico regulators

In a new filing this week, the Public Service Company of New Mexico (PNM) submitted a grid modernization plan to the New Mexico Public Regulation Commission (NMPRC) that would include targeted infrastructure investments and technology focused on a smarter, greener electric system.

The plan spans six years, focusing $344 million of investments to convert the PNM grid into a two-way communication system. This would potentially mean more transparency of energy usage for customers and greater real-time insight for PNM into the distribution grid. In the latter’s case, the company hopes this could help reduce outages or eliminate more problems preemptively and guide future designs of its energy efficiency and load management programs, among others.

“This filing is a major step forward for New Mexico and our customers,” PNM Resources Chairman and CEO Pat Vincent-Collawn said. “This grid modernization plan is critical to enable PNM to move to a system where electricity is generated from different sources. We remain committed to providing reliable, sustainable energy to the people we serve.”

PNM’s holding company, PNM Resources, oversees electricity delivery to approximately 800,000 homes and businesses in New Mexico and Texas. It has about 2.7 GW of capacity at its disposal and intends to make it fully emissions-free by 2040. Its latest plan for New Mexico would also come with requested recovery of approved projects through a tariff rider, subject to NMPRC approval.

If passed, the new plan would involve the deployment of smart meters and distribution system upgrades, with low-income and underserved communities priorities for timely and equal access to clean energy opportunities and customer benefits. This is part of a longer-term grid modernization effort that will also involve increased physical security and cybersecurity infrastructure tied, in part, to the new metering capabilities provided at this stage.