HOBBS, N.M. (AP) – Xcel Energy has asked New Mexico regulators to raise rates for customers in the state.
The Hobbs News-Sun reports the company filed a proposal this week with the New Mexico Public Regulation Commission to adjust its base rates in 2017.
If approved, a typical residential customer in New Mexico using 1,000 kilowatt-hours per month will see a jump of around $18.23 more per month.
Xcel spokesman Wes Reeves says investments made since July 2015 and new facilities like power lines and substations that will be added by June 2018 cost $1.8 billion.
The Minnesota-based Xcel Energy is seeking $41.1 million in additional non-fuel revenue annually or an 11 percent increase overall.
Xcel workers have created transmission lines into the heart of the Delaware Basin in southeastern New Mexico.