Xcel Energy seeks rate increase for New Mexico electric customers

Associated Press

Xcel Energy has asked state regulators to raise rates for utilities customers in New Mexico.

SANTA FE, N.M. (AP) — Xcel Energy has asked state regulators to raise rates for customers in New Mexico.

The electric provider says savings from lower fuel prices will help lessen the impact, but residential customers stand to see their bills increase by about 7.6 percent, or $5.72 per month.

The company says a rate hike will help it recoup some of the more than $1 billion it has spent this year and plans to invest next year in power lines, substations and generating equipment.

Over the next five years, the company says the investments are expected to have a $2 billion economic impact in the region.

If state regulators approve Xcel's request, customers would likely see their rates increase next summer.

Xcel says the last time rates were changed was in April 2014.

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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

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...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs