Commission OKs rate increase for PNM
SANTA FE — In a 3-2 vote, the New Mexico Public Regulation Commission today approved an increase in annual revenue for the state’s largest utility of $65.7 million.
Although PRC staff told the commission the estimated the increase would equate to a bill hike of 10.24 percent for the average customer, PRC spokesperson Carlos Padilla later the Journal the average customer rate increase would be 7.6 percent, with residential customers seeing an average bill increase of around 9 percent.
PNM said it plans to file an appeal with the New Mexico Supreme Court.
The approved rate hike was a little more than half of PNM’s requested increase of $123.5 million in annual revenue, but higher than the $41.3 million recommended by a PRC hearing officer. PNM’s request would have on average had customers see their bills increase by more than 14.4 percent, versus about a 6 percent increase under the hearing officer’s recommendation.
Read more: https://www.abqjournal.com/855337/commission-oks-10-percent-rate-hike-for-pnm.html
= new reply since forum marked as read
