ALBUQUERQUE, N.M. (AP) — The New Mexico Attorney General's Office and consumer advocates are petitioning state regulators to consider a new energy standard they say would protect utility customers and shareholders from the costs and risks associated with future environmental regulations.

The proposed standard calls for electric utilities to reduce carbon dioxide emissions from power plants that serve customers in the state by 4 percent a year through 2040. Supporters say that could amount to a reduction of several million tons of carbon dioxide, considered a prime contributor to global warming...