If approved by the New Mexico Public Regulation Commission, the proposed increase is expected to go into effect in August 2009. With the proposal, PNM electric rates are projected to be 17% below the regional average and 13% below the national average.
Pat Vincent-Collawn, president and COO of PNM Resources, said: New Mexico’s economy and its population are growing rapidly, and so is its need for more electricity. These proposed rates are part of our larger effort to prepare for New Mexico’s energy future and ensure that PNM is financially healthy so that it can provide new sources of power, continue to reduce emissions and increase its investment in renewable energy.
