Smart meters at the core of New Mexico grid modernisation

Public Service Company of New Mexico (PNM) has outlined a six-year $344 million modernisation plan for the electricity grid, with smart meters and cybersecurity as central components.

The plan was outlined in a filing with the New Mexico Public Regulation Commission on Monday. According to the utility, their electricity grid serves more than 530,000 New Mexico customers.

One of the cornerstones of the grid modernisation plan is installation of smart meters which, once fully implemented, will allow customers to monitor electricity rates and choose when to increase and decrease electricity usage.

The smart meters will allow faster response time to electricity outages, by notifying PNM of a lack of power. The modernisation plan aims for better integration of electricity generated from solar units at homes and businesses, while enhancing cyber threat anti-terrorism and hacking measures.

“This filing is a major step forward for New Mexico,” stated Pat Vincent-Collawn, PNM’s chairman and CEO. “This programme is critical to enable PNM to move to a system where electricity is generated from different sources. We remain committed to providing reliable, sustainable energy to the people we serve.”

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The company held a virtual press conference where PNM experts provided a deeper understanding of the customer and economic benefits that will result from the grid modernisation filing.

According to PNM chief policy and legal adviser Laura Sanchez, as reported by Albuquerque Journal, “In the last 50 years, the electric grid has evolved from a one-way power source to a dynamic multi-functioning system that not only powers our homes, but has the ability to integrate with all customers to give them control over their energy usage and bills, as well as providing greater opportunities for more rooftop solar.”

“PNM’s grid modernisation plan will add technology to enable all of this to integrate onto the system, while also making sure the system is reliable – that the lights come on when you throw the switch – and that it is resilient,” Sanchez added.

“Grid modernisation will streamline and upgrade our distribution system to make it more efficient…PNM will begin installing smart meters as part of the process,” which Sanchez states will provide real-time updates on daily power usage.

According to PNM, distribution upgrades on the grid will allow faster responses to outages, sometimes allowing power to be restored remotely without sending a crew.

With smart meter installation, residential and business customers will be able to monitor their electricity consumption in real time, allowing them to adjust their usage and avoid unexpected costs. The modernisation plan will deploy the technology to low-income areas first.