Gov. Bill Richardson’s office announced today that 50 new laws are taking effect, including one that requires utilities to increase their energy efficiency programs.
The legislation’s goal is to reduce energy consumption by 20-percent by 2020.
“This is good for the environment and good for New Mexico’s energy consumers,” Richardson said in a press release.
The law requires that electric utilities  achieve at least 5-percent energy efficiency savings from 2005 electricity sales by 2014 and 10-percent by 2020. The Public Regulation Commission also must approve energy efficiency programs designed to reduce the burden of energy costs on low-income consumers. And utilities have an opportunity to earn financial incentives for cost effective energy efficiency programs that are cheaper than building and operating new power plants.