New Mexico regulators to decide PNM rate case

By The Associated Press

New Mexico regulators are taking up final consideration of a request by the state's largest electric provider to raise rates for its 500,000 customers.

 

ALBUQUERQUE, N.M. (AP) — New Mexico regulators are taking up final consideration of a request by the state's largest electric provider to raise rates for its 500,000 customers.

The Public Regulation Commission is meeting Wednesday in Santa Fe.

Concerns raised by environmentalists over the value of Public Service Co. of New Mexico's stake in an Arizona nuclear plant spurred a recommendation over the summer that the multimillion-dollar request be slashed by two-thirds.

The commission had offered to reopen hearings so PNM could provide more information about the Palo Verde nuclear power plant. The utility declined, saying the case has been delayed long enough.

If regulators approve a hearing officer's recommendation, PNM customers on average would see their bills increase by more than 6 percent, rather than the 14.4 percent requested by the utility.

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