PNM asks state regulators for 14% average system rate hike

pnm utility worker elp

ALBUQUERQUE, N.M. (AP) — New Mexico's largest electric provider has asked state regulators for an average system rate increase of 14 percent.

Public Service Co. of New Mexico's application with the state Public Regulation Commission seeks an increase of $99.2 million and a return on equity of 10.125 percent.

The overall 14.3 percent rate increase would be spread out over two years to soften the impact for customers.

The rate increase would mean all classes of customers would see an average 11 percent rise in their monthly bills.

Residential customers would see an average increase of 13 percent.

PNM says it needs to recoup the millions of dollars being spent on improvements to the grid and on pollution controls at a pair of coal-fired power plants in northwestern New Mexico.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs