Sen. Linda Lopez Senate District 11 | Sierra Club Rio Grande Chapter
The New Mexico State House has passed the Energy Transition Act, also known as SB489, and it now awaits approval from Governor Michelle Lujan Grisham. The legislation aims to transition New Mexico towards a clean energy economy by setting ambitious renewable energy targets and providing support for communities affected by the closure of coal-fired power plants.
Camilla Feibelman, director of the Sierra Club Rio Grande Chapter, expressed optimism about the bill's passage: “Passage of the Energy Transition Act gives great hope to New Mexico and everyone who wants a livable future on our planet.” She emphasized that this legislation is a response to urgent calls from scientists to address climate change within the next 12 years.
David Coss, chair of the Sierra Club Rio Grande Chapter, highlighted how the act addresses various impacts associated with retiring coal facilities: “This legislation addresses the economic, environmental and justice impacts of retiring San Juan Generating Station.”
The Energy Transition Act mandates that investor-owned utilities in New Mexico achieve 50% renewable energy by 2030, 80% by 2040, and 100% carbon-free electricity by 2045. Co-ops are given an additional five years to meet these standards. The act also ensures significant reinvestment in affected communities like Four Corners and provides financial support for displaced workers.
Feibelman noted that renewable portfolio standards have contributed to reducing solar and wind costs significantly since 2009. The act is expected to continue this trend while lowering electric bills for consumers.
Acknowledging key political figures who supported the bill's development, Feibelman stated: “Gov. Lujan Grisham, Sens. Candelaria, Stewart and Ortiz y Pino and Reps. Small, Roybal-Caballero and Egolf all deserve kudos for looking into the future and acting with vision.”
In addition to transitioning away from coal power at San Juan Generating Station through pollution requirements unattainable by current coal plants without this legislation, there are provisions for economic development in San Juan County totaling $20 million.
Furthermore, another $20 million is allocated for severance payments and retraining programs for workers impacted by plant closures. An apprenticeship program will be established under this bill aimed at developing a diverse workforce ready for new energy construction projects.
Finally, supporters claim that customers' current bills could decrease due to refinancing measures outlined in the act—allowing utilities like PNM (Public Service Company of New Mexico) lower interest rates on bonds compared with existing customer payment rates over time if implemented successfully under state regulatory authority guidelines set forth within proposed framework changes outlined herein today’s announcement made public earlier via press release distributed widely across media outlets nationwide upon news release issuance date specified therein above-mentioned document details provided herein below:
