Public Regulation Commission to rule next week on PNM rates

PNM Building

ALBUQUERQUE, N.M. (AP) — The New Mexico Public Regulation Commission plans to rule next week on a rate increase for more than 500,000 customers of the state’s largest utility.

Public Service Company of New Mexico is requesting an increase of more than $123 million in annual revenue, under which customers on average would see their bills rise by 14.4 percent.

A PRC hearing examiner’s recommendation last month slashed that by two-thirds to about $41 million, which would mean an average increase of 6.4 percent for customers.

The Albuquerque Journal reports that under state law, the commission has until the end of the month to make their ruling.

The commissioners on Wednesday agreed to vote on a final order in the case on Sep. 28.

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