Anatomy of a Utility Debt Clearing Bill.

What’s the deal? New Mexico is considering HB 206 (2021 | NM ) this bill will clear 50% of the debt, if the customer agrees to a payment plan for the remainder. NM’s regulator, the Public Regulation Commission, would approve discounted rates for low-income families; & create an Energy Efficiency Development Block Grant program to provide local and tribal governments with money to retrofit homes in underserved communities to conserve energy and lower utility bills

Why should we care? Supporters say the bill will have a positive impact on families suffering during the pandemic.

How can this impact me? Depends if ratepayers will foot the bill. Bill authors say currently the bill would have utility write-offs recovered first with any federal, state or philanthropic funds available through COVID-19 programs. The remainder would be added to rate base.

Governing | New Mexico Bill Would Wipe Utility Debt for Low-Income Homes