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Regulatory process moves along for PNM bill increase request
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It seems likely electricity bills for many New Mexicans will tick up in July and again in April next year.
Hearing examiners with the New Mexico Public Regulation Commission on Tuesday recommended commissioners approve a settlement to increase average monthly bills for Public Service Company of New Mexico customers by about $10 through 2026.
The first increase would start in July and amount to $2.79 more monthly for the average customer using 600 kilowatt-hours of electricity. The second increase would start in April 2026, equating to on average about $7 more a month.
Initially, PNM sought to increase average monthly bills by about $23 through 2026, but the company in November agreed to a stipulation with energy organizations lowering the increased amount.
State commissioners still need to approve the settlement, though it’s likely they’ll agree with their hearing examiners’ recommendation.
