New Mexico § 62-3-1 - Declaration of policy

§ 62-3-1. Declaration of policy

A. Public utilities, as defined in Section 62-3-3 NMSA 1978 , are affected with the public interest in that, among other things: (1) a substantial portion of public utilities' business and activities involves the

rendition of essential public services to a large number of the general public; (2) public utilities' financing involves the investment of large sums of money, including

capital obtained from many members of the general public; and (3) the development and extension of public utilities' business directly affects the

development, growth and expansion of the general welfare, business and industry of

the state. B. It is the declared policy of the state that the public interest, the interest of

consumers and the interest of investors require the regulation and supervision of

public utilities to the end that reasonable and proper services shall be available

at fair, just and reasonable rates and to the end that capital and investment may

be encouraged and attracted so as to provide for the construction, development and

extension, without unnecessary duplication and economic waste, of proper plants and

facilities and demand-side resources for the rendition of service to the general public

and to industry.