According to the company, the proposal filed at the New Mexico Public Regulation Commission will increase the average residential bill of 750 kilowatt-hours per month by 12.7% or $8.79 per month.
The proposal also seeks to implement part of this increase on an interim basis, beginning January 17, 2009, to recover costs of the new Hobbs generating station.
David Eves, president and CEO of Southwestern Public Service Company, said: We cannot access the capital dollars needed to acquire more efficient power sources such as the Hobbs plant, and to build new power lines, if our existing rates can’t cover our costs.
Xcel Energy is an electricity and natural gas company with regulated operations in eight Western and Midwestern states in the United States. The company provides a portfolio of energy-related products and claims to serve 3.3 million electricity customers and 1.8 million natural gas customers through its regulated operating companies.
