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Article fails to report who's picking up the tab for $45M balance on the $85M transmission line. Consumer ratepayers?
by howard941 8y ago
Article fails to report who's picking up the tab for $45M balance on the $85M transmission line. Consumer ratepayers?
- s1artibartfast 8y agoThe Article is just re-reporting the Albuquerque Journal, which has a better description[1]. The power company (PNM) planned to split the costs of the grid upgrade between wholesale payers and the ratepayers. The regulator ruled that PNM cannot charge the ratepayers, but PNM did not include the the grid upgrade in the contract with Facebook. It seems that the power company is the one stuck holding the bag. [1] https://www.abqjournal.com/ https://www.abqjournal.com/
- howard941 8y agoThank you. I was curious about the magnitude of the deal as compared to their other revenues, didn't find what I was looking for, but someone with better annual report reading skills may see something useful in PNM's 10K and the note specific to the Facebook deal at pdf page 194 https://www.pnmresources.com/~/media/Files/P/PNM-Resources/quarterly-results/2018/q4-2018-10k.pdf https://www.pnmresources.com/~/media/Files/P/PNM-Resources/q...