Commission to Rule on PNM Rate Increase

 

New Mexico’s largest utility, PNM, was back in front of the State Public Regulation Commission last week requesting another increase in electricity rates. Last month, the commission wound up a 15 month hearing, and allowed a 6.3 percent increase in rates – less than half of what PNM had asked for. The company filed a motion for a rehearing in which it threatened to appeal the case to the state Supreme court. The commission promptly docketed another case and hosted just three additional days of testimony. PNM is asking for terms that would allow it to raise rates as needed to cover higher costs for the fuel and power it purchases. The impact of such a rule could be enormous, particularly on low-income New Mexicans. The State Attorney General, charged with protecting ratepayers, appeared at the hearing but spoke in favor of the utility rather than on behalf of ratepayers. Four of the five commissioners were absent for most or all of the three-day proceeding.

A decision in the case is expected tomorrow.