The company has asked the NMPRC to authorize a hike in electricity rates starting in January 2014. Meanwhile, it also sought CPUC’s approval to increase investments in its Colorado natural gas pipeline and steam systems.
Commenting on the proposed plans, Public Service Co. of Colorado president and CEO David Eves said the company intends to replace natural gas pipelines and steam plant to ensure safe and reliable operations, both now and in the future.
"We have had success in providing longer-term price transparency for our electric customers through the multi-year rate plan approved by the CPUC earlier this year," Eves added.
"We believe providing similar plans and certainty for our natural gas and steam operations will likewise benefit our customers, particularly as we undertake significant investments on their behalf."
Southwestern Public Service Company president and CEO Riley Hill said the company’s customers expect it to invest in its power plants and electric delivery system to provide the reliable service.
"This case is largely driven by these investments, which provide great value to our customers and the state over the long term," Hill added.
Both Public Service Co. of Colorado and Southwestern Public Service Company (SPSC) are Xcel Energy firms. SPSC serves nearly 100,000 customers in eastern and southeastern New Mexico.
