New Mexico regulators to begin talks over PNM rate increases

New Energy Economy, a climate advocacy group, is expected to speak against the rate increase

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SANTA FE, N.M. (AP) — State regulators are slated to begin deliberations over whether New Mexico's largest electric utility can raise its rates by 9.2 percent over the next two years.

The Santa Fe New Mexican reports the state Public Regulation Commission will begin to hear testimony Monday from expert witnesses and attorneys both supporting and opposing the proposal.

The Public Service Co. of New Mexico is seeking $62.3 million from customers to compensate for capital investment costs. Those expenses include maintenance to coal and nuclear power plants, and revenue losses from more energy-efficient appliances and consumer behaviors.

The New Mexico Attorney General's Office, Western Resource Advocates, and other groups have signed on to PNM's rate proposal.

But New Energy Economy, a climate advocacy group, is expected to speak against the rate increase.

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