THE BATTLE LINES ARE BEING DRAWN IN THE PNM RATE HIKE REQUEST GOING BEFORE THE PUBLIC REGULATION COMMISSION IN MARCH. THE UTILITY IS PROPOSING A 14.4 PERCENT RATE HIKE, WHICH TRANSLATES INTO A REVENUE INCREASE OF 123 MILLION DOLLARS.
NEW MEXICO ATTORNEY GENERAL HECTOR BALDERAS TELLS US THE REQUEST IS TOO HIGH. HE SAYS HIS OFFICE HAS TO MAKE SURE THE CONSUMER ISN’T PAYING FOR UNNECESSARY LEGAL FEES AND THAT PNM FILES FOR A LOWER RATE HIKE SO ITS CUSTOMERS AREN’T HIT WITH SUCH A LARGE INCREASE.
PNM DEFENDS THE RATE HIKE, SAYING IT HAS MADE SUBSTANTIAL CAPITAL INVESTMENTS IN THE SYSTEM, INCLUDING SOLAR POWER FACILITIES.
