THE NEW MEXICO PUBLIC REGULATION COMMISSION HAS APPROVED A 10 PERCENT RATE HIKE FOR PNM. THE STATE’S LARGEST UTILITY HAD REQUESTED A 14 PERCENT INCREASE…WHILE A P-R-C HEARING OFFICER HAD RECOMMENDED A RATE HIKE OF ONLY SIX PERCENT.
THE AMOUNT APPROVED BY THE P-R-C FALLS IN BETWEEN THOSE TWO FIGURES. OTHER SOURCES REPORT THE INCREASE IS EITHER 6 PERCENT OR 9 PERCENT. THE INCREASE IS EXPECTED TO RAISE PNM REVENUE BY ABOUT 65 MILLION DOLLARS A YEAR.
