Analysis

Coal Plant Closure Bonds Gain Steam With Shift In Power Mix

By Keith Goldberg (March 13, 2019, 7:24 PM EDT) -- A clean energy bill passed by New Mexico state legislators Tuesday allows utilities to issue ratepayer-backed bonds in order to close coal-fired power plants, and experts say the idea is gaining favor as a way for states to accelerate the transition from coal to cleaner electricity sources without soaking ratepayers in the process.

Under the bill sent to New Mexico Gov. Michelle Lujan Grisham's desk, Public Service Co. of New Mexico, the state's main utility, would be able to issue bonds to cover the costs of shuttering a coal-fired plant it co-owns. The bonds would be paid off by non-bypassable charges...

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