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PRC orders New Mexico’s largest utility to credit customers after power plant's closure


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.