NM HB329

Creates the Energy Affordability and Grid Reliability Council to evaluate strategies for maintaining affordable electric and natural gas utility rates while supporting grid modernization, reliability, and resilience

Council will assess regulatory, financing, and planning mechanisms that balance cost containment, reliability, emissions reduction, and long-term system sustainability, with particular attention to impacts on residential, rural, tribal, and small business customers

Membership includes one representative from the Energy, Minerals and Natural Resources Department plus four governor-appointed experts in consumer advocacy, utility operations, and economic development, with advisory members from each investor-owned utility in the state

Council is administratively attached to the Public Regulation Commission, which will provide staffing support; all members serve at the pleasure of the governor

Appropriates $2,000,000 from the general fund to the Public Regulation Commission for fiscal year 2027 to cover council costs, with unexpended funds reverting to the general fund