This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

New State Settlement Proposal For San Juan Generating Station Could Lay Foundation For “Third Alternative” Agreement

Stocks in this article: PNM

PNM Resources’ (NYSE: PNM) New Mexico utility, PNM, acknowledges that a state settlement proposal released today to address regional haze at San Juan Generating Station appears to be an important step toward an alternative to the current federal plan.

The proposed settlement agreement announced by the state would require several additional actions before moving forward. The first of those actions would be an agreement in principle by the U.S. Environmental Protection Agency (EPA) and PNM to support the proposal. The proposal then would require many additional approvals, including formal adoption from the N.M. Environmental Improvement Board, the N.M. Public Regulation Commission and, ultimately, final approval from the EPA.

“The state proposal announced today appears to be an important step toward meeting our objectives of addressing the environmental needs of the regional haze program while lessening the cost impact to consumers and minimizing economic impact to the Four Corners region,” said PNM Chairman, President and CEO Pat Collawn. “We are hopeful today’s announcement will be the basis for a settlement agreement that will include a new state plan that will be approved by the EPA.”

The state announcement today called for the retirement of units one and two of San Juan Generating Station by year-end 2017 and replacement of those units with natural gas and other non-coal generation, some of which would be located in the Four Corners region. Selective non-catalytic reduction technology would be installed on units three and four.

“We are appreciative of the cooperation and leadership shown by Gov. Susana Martinez, the N.M. Environment Department and the U.S. Environmental Protection Agency throughout the process of exploring a new alternative,” Collawn said.

Collawn also commended the full N.M. Congressional delegation as well as the Navajo Nation for their attention to this issue and for encouraging all parties to seek a negotiated solution to improve air quality and avoid costly litigation.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs