Dec. 24—The state Supreme Court has ordered once again in favor of Public Service Company of New Mexico in its appeal of rate credits ordered by the Public Regulation Commission.

The court on Thursday denied a request to reconsider lifting the stay on PNM's requirement to issue credits to ratepayers for the closure of the San Juan Generating Station.

The request came from several energy advocacy groups, including Western Resource Advocates and Coalition for Clean Affordable Energy, nonprofit Prosperity Works, the state Attorney General's Office and Bernalillo County.

After the court granted the stay Nov. 1, the parties requested the judges reconsider the case, writing they were compelled by "the consequences of the Court's order upon PNM ratepayers, taken in context with recent, substantial, and automatic increases to customer bills through PNM's fuel and purchased power cost adjustment clause."

PNM sought the court's stay due to "irreparable harm" the company said it would suffer from the conditions of the commission's June order.

In its request for the stay of rate credits from the court, PNM claimed it "would likely suffer lost revenues totaling approximately $128.3 million" and would "be denied any opportunity to earn its authorized rate of return."

A PNM representative could not be reached for comment Friday night.

Western Resource Advocates spokesman Steve Michel said the court's order was "very disappointing," adding the PRC has found PNM's plan to issue the bonds in violation of the Energy Transition Act as well as violating the company's own earlier plans.

"The stay is a substantive decision," Michel said. "This decision pretty much guts the case, which is all about the rate relief."

Mariel Nanasi, executive director of energy advocacy group New Energy Economy, also said she was disappointed by the court's decision.

"The court without explanation has granted PNM's stay, and it allows PNM to collect nearly $100 million a year from ratepayers without providing any service," Nanasi said. "PNM is abusing the [Energy Transition Act] because it is using that law as a shield to take money from ratepayers while providing absolutely nothing."