Aside from the ban on local Right to Work laws (HB 85) the bill that Rio Grande Foundation took the most interest in this legislative session was probably the Energy Transition Act (SB 489). Our concern being that the renewable mandate included in the legislation would increase the price of electricity. Environmental groups disagree.
Via social media we have been discussing and debating the issue (see below):
We had @UCSUSA analyze the RPS scenario up through 80% by 2040 and it showed major benefits for NM w NO INCREASE IN ELECTRICITY COSTS. https://t.co/Pm0ZaEzWbE. Why? Because there is NO FUEL COST with renewable energy @NRDC confirmed it in 2019. #ActOnClimate
— 350NM (@350NM) March 23, 2019
So, in the spirit of Julian Simon and Paul Ehrlich I propose a bet. If, by December 31, 2025 (when the 50% renewable mandate is halfway to full implementation) PNM’s residential electricity rates (currently $0.0779432/kWh) for the first 450 KWH per month have not risen by more than the rate of inflation (as calculated by the Bureau of Labor Statistics), I will consider the environmental groups to have won. If the price of electricity rises faster than inflation, Rio Grande Foundation will be considered the winner.
The loser will have to display for the first full week of 2026 a statement on their website and send out a daily tweet stating “We at XX organization were wrong about the Energy Transition Act’s impact on New Mexicans’ electricity prices. We thought electricity prices would increase/not increase but we were wrong. We’re sorry for our mistake.”
What do you say 350.org? I know 2025 seems like a long way off right now, but let’s see if you really believe what you are selling. Email us at firstname.lastname@example.org and we’ll get this going.