Chapter 62, Chapter 62

A. Except as provided in Section 16 [62-18-16 NMSA 1978] of the Energy Transition Act, a qualifying utility that is abandoning a qualifying generating facility shall use the proceeds of the issuance of energy transition bonds only for purposes related to providing utility service…

A. If the commission issues a financing order, the commission shall not treat: (1) energy transition bonds issued pursuant to the financing order as debt of the qualifying utility; (2) the energy transition charges paid under the financing order as revenue of the qualifying utili…

A. Energy transition property that is created in a financing order shall constitute an existing, present property right, notwithstanding that the imposition and collection of energy transition charges depend on the qualifying utility continuing to provide electric energy or conti…

over other liens; attachment on filing with secretary of state. A. Except as otherwise provided in this section, the creation, perfection and enforcement of a security interest in energy transition property to secure the repayment of the principal of and interest on energy transi…

absolute transfer and true sale requirements. A. Any sale, assignment or transfer of energy transition property to an assignee that is a financing entity that is wholly owned, directly or indirectly, by the utility shall be an absolute transfer and true sale of, and not a pledge …

The energy transition charge stated as a separate line entry on a customer bill sent by a qualifying utility may be subject to an assessment of a franchise fee imposed by a municipality, county or other political subdivision of the state, pursuant to a utility franchise agreement…

economic development assistance fund; energy transition displaced worker assistance fund; community advisory committee. A. The "energy transition Indian affairs fund" is created in the state treasury. The fund shall consist of appropriations, gifts, grants, donations and bequests…

Energy transition bonds issued pursuant to the Energy Transition Act shall not constitute a debt or a pledge of the faith and credit or taxing power of this state or of any county, municipality or any other political subdivision of this state. Bondholders shall have no right to h…

Energy transition bonds shall be legal investments for all governmental units, permanent funds of the state, finance authorities, financial institutions, insurance companies, fiduciaries and other persons requiring statutory authority regarding legal investments. History: Laws 20…

A. The state pledges to and agrees with the bondholders, any assignee and any financing parties that the state shall not take or permit any action that impairs the value of energy transition property, except as allowed pursuant to Section 6 [62-18-6 NMSA 1978] of the Energy Trans…

As used in the Energy Transition Act: A. "adjustment mechanism" means a formula-based calculation used to make adjustments to the energy transition charges that are necessary to correct for any over- collection or under-collection of the energy transition charges, to provide for …

The laws of the state of New Mexico as set forth in the Energy Transition Act shall govern the validity, enforceability, attachment, perfection, priority and exercise of remedies with respect to the transfer of an interest or right of creation of a security interest in energy tra…

In the event of any conflict between the Energy Transition Act and any other law regarding the attachment, assignment or perfection, or the effect of perfection, or priority of any security interest in or transfer of energy transition property, the Energy Transition Act shall gov…

Effective on the date that energy transition bonds are first issued under the Energy Transition Act, if any provision of that act is invalidated, superseded, replaced, repealed or expires for any reason, that occurrence shall not affect the validity of any action allowed pursuant…

The provisions of the Energy Transition Act shall not apply to a qualifying utility that makes an initial application for a financing order more than twelve years after the effective date of that act. This section shall not preclude a qualifying utility for which the commission h…

A. For a qualifying utility that abandons a qualifying generating facility in New Mexico prior to January 1, 2023, the qualifying utility shall, no later than one year after approval of the abandonment, apply for commission approval of competitively procured replacement resources…

applications. A. A qualifying utility that is abandoning a qualifying generating facility may apply to the commission for a financing order pursuant to this section to recover all of its energy transition costs through the issuance of energy transition bonds. To obtain a financin…

commission of disbursement of bond proceeds; review and audit of records. A. The commission may approve an application for a financing order without a formal hearing if no protest establishing good cause for a formal hearing is filed within thirty days of the date when notice is …

procedures if commission determines adjustment made in error. A. If the commission issues a financing order, the qualifying utility for which the order is issued may charge all of the qualifying utility's customers an energy transition charge, which shall be allocated to customer…

A. A financing order is irrevocable and the commission shall not reduce, impair, postpone or terminate the energy transition charges approved in the financing order, the energy transition property or the collection or recovery of energy transition revenues. B. Subject to the limi…

A. A financing order shall be issued as a separate order from any other order issued by the commission on a requested approval in the application proceeding and is a final order of the commission. A party aggrieved by the issuance of a financing order may apply to the commission …

transition charges imposed. A. A financing order shall remain in effect until the energy transition bonds issued pursuant to the financing order and any related financing costs have been paid in full. B. A financing order shall remain in effect and unabated notwithstanding the ba…

Chapter 62, Article 19 NMSA 1978 may be cited as the "Public Regulation Commission Act". History: Laws 1998, ch. 108, § 1; 2007, ch. 161, § 1; § 8-8-1, recompiled and amended as § 62-19-1 by Laws 2020, ch. 9, § 15.

A. The commission shall adopt rules to protect consumers' rights with respect to propane service. B. The commission shall report by December 2009 to the appropriate interim legislative committee appointed by the New Mexico legislative council on the progress of the rulemaking pur…

As used in the Public Regulation Commission Act: A. "agency" means the organization supporting the commission, including all employees; B. "commission" means the public regulation commission created by Article 11, Section 1 of the constitution of New Mexico; C. "commissioner" mea…

A. The commission may appoint a commissioner or a hearing examiner to preside over any matter before the commission, including rulemakings, adjudicatory hearings and administrative matters. Hearing examiners shall conduct proceedings and issue findings and recommendations based s…

Unless otherwise provided by law, rules shall be adopted, amended or repealed in accordance with the State Rules Act [Chapter 14, Article 4 NMSA 1978]. History: Laws 1998, ch. 108, § 15; 2001, ch. 117, § 1; § 8-8-15, recompiled as § 62- 19-21 by Laws 2020, ch. 9, § 59; 2026, ch. …

Unless otherwise provided by law, the commission may by rule provide that oral proceedings before the commission may be taken by any means that provides a full and complete record, including tape recording or stenography. The commission by rule shall determine when tape recording…

A. A commissioner shall not initiate, permit or consider a communication directly or indirectly with a party or the party's representative outside the presence of the other parties concerning a pending rulemaking after the record has been closed or a pending adjudication. B. A he…

By May 1 of each year, the commission shall report to the legislature and the governor regarding its activities for the previous year in sufficient detail to disclose the workings of the commission and the impact of regulation on the industries regulated by the commission. The re…

A. The chief of staff shall serve at the pleasure of the commission and act consistent with its goals, decisions and directives. B. The chief of staff shall: (1) be responsible for the day-to-day operations of the agency; (2) ensure that the agency carries out all duties and resp…

A. The "public regulation commission", created in Article 11, Section 1 of the constitution of New Mexico, is composed of three commissioners appointed by the governor with the consent of the senate as provided in that article. B. The commission shall annually elect one of its me…

A. The "public regulation commission nominating committee" is created and consists of seven members who are: (1) knowledgeable about public utility regulation; (2) not employed by or on behalf of or have a contract with a public utility that is regulated by the commission; (3) no…

A. Commissioners shall be persons who are independent of the industries regulated by the commission and shall possess demonstrated competence. B. In order to be appointed as a commissioner, a person must be qualified for office by: (1) having a baccalaureate degree from an instit…

A. A commissioner shall complete: (1) at least six hours of ethics training at a course provided in person or online by a post-secondary educational institution in the first twelve-month period after taking office and at least two hours of ethics training conducted by a post-seco…

A. A commissioner or hearing examiner shall self recuse in any adjudicatory proceeding in which the commissioner or hearing examiner is unable to make a fair and impartial decision or in which there is reasonable doubt about whether the commissioner or hearing examiner can make a…

A. As used in this section, in addition to the definitions provided in Section 62-19-2 NMSA 1978: (1) "affiliated interest" means a person who directly controls or is controlled by or is under common control with a regulated entity, including an agent, representative, attorney, e…

A. The commission shall: (1) administer and enforce the laws with which it is charged and has every power conferred by law; (2) appoint a chief of staff; (3) prepare an annual budget for submission to the legislature; (4) adopt rules to streamline the resolution of cases before i…

This act [62-20-1 to 62-20-7 NMSA 1978] may be cited as the "Regional Water System Resiliency Act". History: Laws 2023, ch. 4, § 1.

As used in the Regional Water System Resiliency Act: A. "authority" means a regional utility authority established pursuant to the Regional Water System Resiliency Act; B. "board" means the board of directors of an authority; C. "director" means a director of a board; D. "dissolv…

A. An authority is a political subdivision of the state. B. Two or more entities may create an authority. C. Each founding or joining entity shall adopt a resolution signifying its intention to establish or join an authority. A founding or joining entity shall not adopt a resolut…

The articles of incorporation of an authority shall recite in the caption that they are executed pursuant to the Regional Water System Resiliency Act, shall be signed and acknowledged by each of the founding entities and shall state: A. the name of the authority; B. the address o…

A. An authority may provide for water and wastewater services, road improvements for the protection of the authority's infrastructure, renewable energy projects or other projects that are integral to the operation and maintenance of the authority's facilities. B. An authority may…

A. An authority shall be governed by a board of directors. The board shall conduct elections pursuant to the Local Election Act [Chapter 1, Article 22 NMSA 1978] and in accordance with the Election Code [Chapter 1 NMSA 1978]. The initial board shall establish the boundaries and t…

acquisition of water rights. Subject to any other statutory requirements for dissolution and transfer, an authority may accept a transfer of assets and liabilities upon the request, and the legal dissolution, of an entity that provides water or sewer services and is: A. a politic…

This act [62-21-1 to 62-21-10 NMSA 1978] may be cited as the "Essential Services Development Act. History: Laws 2025, ch. 125, § 1.

participation agreement; duties and requirements. A. If public support is provided for an essential services project, the division shall enter into a project participation agreement with the local or regional government pursuant to this section. B. A project participation agreeme…

As used in the Essential Services Development Act: A. "broadband telecommunications network facilities" means the electronics, equipment, transmission facilities, fiber-optic cables and any other item directly related to a system capable of transmission of internet protocol or ot…

Public support for an essential services project shall be specifically authorized by law. The law shall include provisions to safeguard public money and other resources, including allowing the division to recover money and other resources from a local or regional government if th…

At the request of a local or regional government, the division shall provide technical assistance in the development of an essential services plan or project. History: Laws 2025, ch. 125, § 4.