Xcel Energy seeks rate increase for New Mexico customers
The electric provider says savings from lower fuel prices will help lessen the impact
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.
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.