ALBUQUERQUE — New Mexico's largest utility on Thursday terminated a power purchasing agreement with a proposed biomass electric plant that has been touted as part of the state's push for renewable energy. ...

PNM spokesman Don Brown acknowledged Thursday that the energy market is more expensive today. But he said the utility must focus on finding reliable renewable energy sources to meet the company's diversity goals as well as a state standard that calls for 10 percent of electricity from the state's investor-owned utilities to come from renewable sources by 2011.

"We really need to focus on renewable projects that have a high probability of becoming a reality and this one at this point does not appear to be close to fruition," Brown said. There are too many question marks surrounding this project at this time." ...