PNM resources: Urgent request and brief for partial stay







TO THE SUPREME COURT OF THE STATE OF NEW MEXICO

NOPE. S-1-SC-39440

NEW UTILITY COMPANY

MEXICO,

Appellant,

v.

NEW MEXICO PUBLIC REGULATIONS

COMMISSION,

Respondent.

In the matter of the utility company

of the abandonment of San Juan in New Mexico

Central Units 1 and 4,

NMPRC Case No. 19-00018-UT

URGENT MOTION AND APPELLANT’S BRIEF

NEW MEXICO UTILITY COMPANY

OF PARTIAL SUSPENSION OF THE FINAL ORDER DURING APPEAL

Patrick V. Apodaca, Vice President

Richard L. Alvidrez

President and General Counsel

Miller Stratvert PA

Stacey J. Goodwin, Partner

500 Marquette NO, office 1100

General Counsel

PO Box 25687

PNM Resources, Inc.

Albuquerque, New Mexico 87125

Headquarters – Legal

(505) 842-1950

department

[email protected]

Albuquerque, New Mexico 87158-0805

  1. 241-4836
    [email protected]

1

Raymond L. Gifford

Debrea M. Terwilliger

Wilkinson Barker Knauer LLP

2138 West 32nd Avenue, Suite 300

Denver, Colorado 80211

  1. 626-2350
  1. 626-2329

[email protected]

[email protected]

July 25, 2022

2

TABLE OF CONTENTS

I.

INTRODUCTION …………………………………………. ……………………………………..

1

II.

JURISDICTION ………………………………………… …………………………………………..

3

III.

SUMMARY BACKGROUND TO THE PROCEDURE ……………………………………….. ……….

3

IV.

ARGUMENTS AND AUTHORITIES ………………………………………. ……………. …………

5

A. Standards applicable to the suspension of a Board order …………………………………….. ..

6

  1. The Commission acted illegally and arbitrarily and capriciously in striking out parts of Monroy’s claim and, conversely, relying on Gorman’s claim to support the

Refusal of stay. ………………………………………….. …………………………

seven

  1. PNM has established all the necessary elements for a stay of the final

Order pending appeal ………………………………………….. …… …………………….

ten

1.

PNM is likely to prevail on the merits. …………………………………………

11

2.

PNM will suffer irreparable harm. ………………………………………….. ..

24

3.

Customers Will Not Suffer Substantial Harm…………………………….

31

4.

The public interest will not be prejudiced ……………………………. ………………….. .

34

V

POSITIONS OF THE PARTIES ……………………………….. … …………………

37

VI.

REQUEST FOR REPAIR ………………………………………….. … ………………………………………..

38

I

TABLE OF AUTHORITIES

Case of New Mexico

Baker vs. Hedstrom2013-NMSC-043, 309 P.3d 1047……………………………15

Citizens for Fair Rates and the Env’t v. NM Pub. Common regulation,

2022-NMSC-010, 503 P.3d 1138…………………………………………..5, 16, 21

City of Las Cruces c. NM Pub. Common regulation,

2020-NMSC-016, 476 P.3d 880………………………………………………1, 6, 8

Hobbs Gas Co. v. NM Public Service Commun’n,

1993-NMSC-032, 115NM 678………………………………………………….20

Regarding the petition from PNM Gas Servs.,

2000-NMSC-012, 129NM 1…………………………………………19, 20, 33, 37

Jaynes v. WalmartStore No. 8241988-NMCA-076, 107NM 648……………10

Landess vs. Gardner Turf Grass, Inc.,

2008-NMCA-159, 145NM 372…………………………………………………………………16

Lane vs. Soto-Vega,no. 37 342,

same. op. (NM Ct. App. May 24, 2021) (unprecedented)……………………..10

Mountain States Tel. & Such. Co. c. NM State Corp. Common ,

1977-NMSC-032, 90NM 325……………………………………………….19, 30

NM Indus. Energy consumers c. NM Pub. To serve. Common,

1986-NMSC-059, 104NM 565………………………………………………….21

Southern Union Gas Co. v. New Mexico Pub. To serve. Common,

1972-NMSC-072, 84NM 330…………………………………37

State v. Smith2009-NMCA-028, 145NM 757…………………………………16

State v.White2010-NMCA-043, 148NM 214…………………………………………17

ex rel. Egolf v. NM Pub. Common regulationii

2020-NMSC-018, 476 P.3d 896………………………………………………..5, 16

Tenneco Oil Co. v. NM Water Quality Control Community,

1986-NMCA-033, 105NM 708…………………………………………….….7, 8

Cases from other jurisdictions

Nat’l Parks Conservation Ass’n v. Envtl. Prot. Agency,

788 F.3d 1134 (9th Cir. 2015)……..………………………………………….10, 34

New Mexico Regulatory Affairs

In the matter of the Gas Co. of NM’s application for authority to collect certain costs by means of a rate rider,

NMPSC Case No. 2361 (1992)……………………………………………………………18

In the matter of the application of Pub. To serve. Co. of NM for a review of its retail electricity rates pursuant to Notices Nos. 397 and 32,

Case No. 10-00086-UT (2011)…………………………………………………….18

El Paso Elec app. Co. for approval of new and amended energy efficiency programs for 2011,

Case No. 11-00047-UT…………………………………………………………..……19, 36

In terms of advertising. To serve. Co. of NM’s Renewable Energy Portfolio Procurement Plan for 2016 and Proposed 2016 Rider Rate Under Rate Rider No. 36,

Case No. 15-00166-UT (2015)…..………………..………………………………18

In the matter of the joint application of Iberdrola, SA, Avangrid, Inc., Avangrid Networks, Inc., NM Green Holdings, Inc., Pub. To serve. Co. of NM and PNM Resources for approval of the merger of NM Green Holdings, Inc., with PNM Resources, Inc.,

NMPRC Case No. 20-00222-UT (2021)………………………………….……….22

New Mexico Statutes and Rules

NMSA 1978, § 62-3-1(A)(1)-(3) (2008)……………………………………….…36

iii

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PNM Resources Inc. published this content on July 26, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on July 26, 2022 00:58:03 UTC.

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Analyst Recommendations for PNM RESOURCES, INC.

2022 sales 1,796 million

Net income 2022 223M

Net debt 2022

PER 2022 ratio 18.4x
2022 return 2.93%
Capitalization 4,075 million
4,075 million
capi. / Sales 2022 2.27x
capi. / Sales 2023 2.17x
# of employees 1,646
Floating 98.6%

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Trends Technical Analysis PNM RESOURCES, INC.

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Medium consensus SURPASS
Number of analysts seven
Last closing price $47.48
Average target price $50.51
Average Spread / Target 6.39%


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