New Mexico Administrative Code
Title 17 - PUBLIC UTILITIES AND UTILITY SERVICES
Chapter 3 - UTILITIES FINANCIAL ACCOUNTING AND REPORTING-GENERAL PROVISIONS
Part 580 - COST OVERRUN
Section 17.3.580.6 - OBJECTIVE
Universal Citation: 17 NM Admin Code 17.3.580.6
Current through Register Vol. 35, No. 18, September 24, 2024
A. The purpose of NMPSC Rule 580 [17.3.580 NMAC] is:
(1) To
clarify and implement the Public Utility Act and applicable law by providing
that no cost overruns incurred in construction of new electric generating plant
will be included in rates unless the Commission determines whether they were
prudently incurred;
(2) To give all
electric utilities notice of this requirement; and
(3) To ensure that all data that may be
material to adjudication of the prudence of construction costs is available and
maintained by a utility.
B. The intent of the Commission in promulgating NMPSC Rule 580 [17.3.580 NMAC] is to assure that New Mexico ratepayers receive adequate, efficient, and reasonable service at just and reasonable rates and to avoid unnecessary duplication and economic waste in plant construction and planning.
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