The California-led effort to organize Western states under a single renewable-heavy electricity market is picking up steam with the commitment of New Mexico’s largest utility.
PNM, which has 550,000 customers, announced Monday that it would join the Extended Day-Ahead Market (EDAM) being developed by the California Independent System Operator, the state’s grid operator.
Joining the regional electricity market, the utility said, could provide $20 million in annual benefits to its customers and improve grid reliability by allowing the state to draw on a larger pool of renewable resources and sell its own excess power.
“Participating in EDAM is the next step in realizing the value of New Mexico’s renewable energy potential for our customers, helping us ensure continued clean and reliable service at the lowest possible cost,” PNM President and CEO Don Tarry said in a statement. Coordination with other utilities, Tarry added, “can continue to deliver substantial efficiencies and cost benefits for our customers.”
