Governor inks three energy bills today

Governor inks three energy bills today

New Mexico Business Weekly - 4/5/05

The three pieces of legislation, two House and one Senate bill, will create new funding for energy projects that are designed to make it easier for public buildings to initiate clean and energy efficient programs and will require utility providers like Public Service Company of New Mexico (NYSE: PNM) to implement new efficiency programs.

"This is fantastic," says Chris Wentz, director of the Energy Conservation and Management Division of the state's Energy, Minerals and Natural Resources Department. "The legislative session was very productive in terms of advancing the governor's clean energy agenda."

The three bills that will be signed into law during a ceremony at the Roundhouse today include:

House Bill 32, the Energy Efficiency and Renewable Energy Bonding Act, will allow the state's Finance Authority to issue up to $20 million to pay for the installation of energy efficient measures in state buildings like schools. Money issued under the Act will be repaid to the state through energy savings, much like an energy performance contract issued by a private energy services provider. House Bill 720, the Natural Resources Conservation Bids bill, contains amendments to laws that will broaden the types of guarantees the state can obtain for energy improvement projects as well as make it easier for state agencies to enter into such agreements with energy services companies. Senate Bill 644, the Efficient Use of Energy Act, directs the state's public utilities to develop and implement new cost effective, energy efficiency programs. If programs are approved by the state's Public Regulation Commission, utilities could recover the cost of implementing the program. "It will probably translate to $10 million to $20 million in energy efficiency programs per year," says Wentz of the money that will likely trickle down to private energy service providers that develop plans to cut energy consumption.

For far more extensive news on the energy/power visit: http://www.energycentral.com .