New Mexico Administrative Code › Title 17 - PUBLIC UTILITIES AND UTILITY SERVICES › Chapter 1 - UTILITIES GENERAL PROVISIONS › Part 2 - UTILITY APPLICATIONS › Section 17.1.2.8 - APPLICATIONS RELATING TO SECURITIES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Annual informational financing
				filing:
(1) For purposes of this
				section, the term "utility" shall include each person subject to Subsection B
				of Section
				62-6-4
				NMSA 1978 and each electric, gas, or combination utility subject to the
				jurisdiction of the commission.
(2)
				Each rural electric cooperative other than a generation and transmission
				cooperative shall not be required to file, correct or update an annual
				information filing, but shall file contemporaneously with the commission copies
				of all documentation submitted to the rural electrification administration
				supporting any loan application to that agency. The documents shall include,
				but are not limited to, a power requirements study, a financial forecast, and
				an engineering work plan.
(3) To
				assist the commission in reviewing applications relating to securities within
				the thirty (30) days required by statute, each utility shall file with the
				commission on an annual basis the information required by this rule.
(a) Such information shall be filed by the
				utility in the form of a written statement plus any pertinent exhibits. Such
				written statements and exhibits shall be filed by the utility with its annual
				report and cover the twelve month period between the filing of its current
				annual report and the date its next annual report is due to be filed.
(b) The commission or presiding officer may,
				subsequent to the filing of the statement, require that the utility attend a
				conference with staff and other parties to review the filing and discuss the
				utility's financing plan. The filing and any conference held are for
				informational purposes and no actions taken or statements made by staff shall
				be deemed approval of an issuance of securities or in any way bind the
				commission or staff.
(4)
				A utility, for good cause, shall have a reasonable opportunity to cure its
				failure to file its annual informational financing filing in a timely manner
				and to cure any deficiencies contained in an annual informational financing
				filing. A utility has the duty to discover and cure any such deficiencies at
				the earliest possible time. A utility may also request, for good cause, an
				extension of time in which to make the annual filing.
(5) A utility which fails to make its annual
				informational financing filing may be subject to the imposition of sanctions as
				provided in Sections
				62-12-1
				NMSA 1978 et seq. and such other sanctions as are authorized by law. An
				application relating to securities may be dismissed if the utility's annual
				informational financing filings are not current and if the utility has not
				demonstrated good cause for its failure to make its annual filing when
				due.
(6) The following information
				must be provided in the annual informational financing filing:
(a) a general description of the anticipated
				annual capital requirements with an explanation of the amount which will be
				provided internally and the amount to be provided externally;
(b) a general description of all known and
				projected securities to be issued, assumed, or guaranteed during the twelve
				(12) month period between the filing of the utility's current annual report and
				the date its next annual report is due to be filed;
(c) the capital structure in dollar and
				percentage amounts expected to be achieved by the utility upon issuance of each
				of the known and projected securities, if approved by the commission;
(d) in the case of investor-owned utilities
				with common stock outstanding, a list of all stock plans available to
				employees, investors, or consumers; the number of shares issued by the utility
				under each plan; and the proceeds to the utility therefrom and any discounts
				available;
(e) the status of the
				securities described in the applications of the utility filed or approved
				during the reporting period preceding the period covered by the current
				report.