Supreme Court OKs PNM rate increase at risk of reimbursement

By The Associated Press

The state Supreme Court has ruled to allow New Mexico's largest electric utility to go forward with a rate increase, but warned that regulators can order the company to reimburse their customers if the rate hike is determined to be unlawful after it is implemented.

 

SANTA FE, N.M. (AP) — The state Supreme Court has ruled to allow New Mexico's largest electric utility to go forward with a rate increase, but warned that regulators can order the company to reimburse their customers if the rate hike is determined to be unlawful after it is implemented.

The Supreme Court on Monday rejected an emergency motion filed by the nonprofit environmental group New Energy Economy, which had asked the court to place a hold on the rate increase that went into effect in October for Public Service Company of New Mexico customers.

New Energy Economy had wanted the justices to halt the increase pending the court's decision on an appeal of the rate increase.

Had the motion been approved PNM customers would have seen rates drop between $1.50 and $3.50 per month.

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