I got a call from Tino Monaldo today passing on the results of Dennis  Langley's meeting with DOE in Albuquerque.
DOE indicated that their current  PNM rate is "5.3 cents, exclusive of the demand charge."
Tino's consultant  claims that factoring in the demand charge yields an effective rate of  approximately 7 cents/KWh.
Assuming we need to come in at 10% less than the  current rate, our bogey is 6.3 cents/KWh.
This is at the high end of the  range we hoped they'd be in.
Additionally, DOE indicated that they need "redundancy" and don't want to  rely on PNM for back up power.
They want a multiple turbine facility--i.e.,

Pueblo