ALBUQUERQUE, N.M. (AP) — It’s lights out for one of the two remaining
units at a coal-fired power plant in northwestern New Mexico that has
provided electricity for millions of customers in the southwest U.S. for
nearly a half-century. Unit 1 at the San Juan Generating Station was
shuttered Thursday as state regulators ordered New Mexico’s largest
utility to credit customers for millions of dollars in savings that will
come from the plant’s closure. Regulators said the utility's plan to
delay the credit constituted what they called a “moral hazard.” The
utility will appeal the decision, warning that applying the credit now
would result in higher rates later.