PNM to request electric rate increase
PNM wants to recover costs for investment in power plants and other infrastructure, and to make up for a decrease in power consumption
ALBUQUERQUE, N.M. (AP) — Public Service Co. of New Mexico plans to ask state regulators for a rate increase for the utility's electricity customers.
Vice President for Regulatory Affairs Gerard Ortiz says PNM expects to file a rate case with the Public Regulation Commission by December, but he says PNM hasn't yet decided how big of an increase it will request.
PNM last got a rate increase in 2011 when the commission approved a 9 percent increase in customers' bills.