New Mexico legislation · 2026 Regular Session
New Mexico SB308: UTILITY & ENERGY CHANGES
Status: In committee, February 4, 2026
What the bill says
An act relating to the environment; permitting public utilities to petition for a waiver of renewable portfolio standards; allowing public utilities with waivers to purchase, construct or acquire carbon-based energy generation facilities and to operate those facilities for the duration of their useful life; allowing public utilities with waivers to purchase energy produced outside the state; enacting a new section of the environmental improvement act; establishing a voluntary certified natural gas monitoring and reporting program…
From the introduced text, February 4, 2026:
AN ACT RELATING TO THE ENVIRONMENT; PERMITTING PUBLIC UTILITIES TO PETITION FOR A WAIVER OF RENEWABLE PORTFOLIO STANDARDS; ALLOWING PUBLIC UTILITIES WITH WAIVERS TO PURCHASE, CONSTRUCT OR ACQUIRE CARBON-BASED ENERGY GENERATION FACILITIES AND TO OPERATE THOSE FACILITIES FOR THE DURATION OF THEIR USEFUL LIFE; ALLOWING PUBLIC UTILITIES WITH WAIVERS TO PURCHASE ENERGY PRODUCED OUTSIDE THE STATE; ENACTING A NEW SECTION OF THE ENVIRONMENTAL IMPROVEMENT ACT; ESTABLISHING A VOLUNTARY CERTIFIED NATURAL GAS MONITORING AND REPORTING PROGRAM; REQUIRING THE ENVIRONMENTAL IMPROVEMENT BOARD TO ADOPT A CARBON INTENSITY STANDARD FOR NEW MEXICO NATURAL GAS PRODUCTION; PROVIDING FOR ANNUAL RENEWAL OF CERTIFICATION; RECOGNIZING CERTIFICATION AS A VOLUNTARY COMPLIANCE MECHANISM TO SUPPORT STATEWIDE GREENHOUSE GAS EMISSIONS REDUCTIONS; AUTHORIZING PUBLIC UTILITIES, ELECTRIC GENERATION RESOURCES AND QUALIFIED .233478.2ms wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ MICROGRIDS TO PROCURE AND USE CERTIFIED NATURAL GAS; CREATING THE GREENHOUSE GAS-REDUCING NATURAL GAS TECHNOLOGY CORPORATE INCOME TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 62-16-4 NMSA 1978 (being Laws 2004, Chapter 65, Section 4, as amended) is amended to read: "62-16-4. RENEWABLE PORTFOLIO STANDARD.-- A. A public utility shall meet the renewable portfolio standard requirements, as provided in this section, to include renewable energy in its electric energy supply portfolio as demonstrated by its retirement of renewable energy certificates; provided that …