New Mexico’s largest electric utility is asking state regulators for approval to join a wholesale trading market that allows participants in several western states to buy and sell energy to better balance supply and demand.The Los Angeles Department of Water and Power is among those expected to join the energy imbalance market by 2020 while large utilities in Arizona, Nevada and Utah already are on board.
Public Service Co. of New Mexico (PNM) wants to join by 2021, saying the move could save an estimated $17 million annually for its customers and ensure more efficient use of the electricity generated by solar, wind and other renewable resources throughout the region.