N.M. Stat. § 62-18-9
Conditions that keep financing orders in effect and energy
transition charges imposed.
A. A financing order shall remain in effect until the energy transition bonds issued
pursuant to the financing order and any related financing costs have been paid in full.
B. A financing order shall remain in effect and unabated notwithstanding the
bankruptcy, reorganization or insolvency of the qualifying utility or any non-utility affiliate
or the commencement of any proceeding for bankruptcy or appointment of a receiver.
C. If energy transition bonds issued pursuant to a financing order are outstanding
and the related energy transition costs have not been paid in full, the energy transition
charges authorized by the financing order shall be collected by the qualifying utility or its
successors or assignees, or a collection agent, in full through a non-bypassable charge
that is a separate line item on customer bills and not a part of the qualifying utility's base
rates. The charge shall be paid by all customers:
(1)
receiving electric delivery service from the qualifying utility under
commission-approved rate schedules or special contracts; and
(2)
who acquire electricity from an alternative or subsequent electricity
supplier in the utility service area, to the extent that such acquisition is permitted by New
Mexico law.