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New Mexico Regulators To Consider Proposed PNM Rate Hike

SANTA FE, N.M. (AP) — New Mexico regulators could make a final decision Wednesday on a request by the state's largest electric provider to raise rates for its 500,000 customers. Concerns raised by environmentalists over the value of the utility's stake in an Arizona nuclear plant spurred a recommendation earlier this month that the multimillion-dollar request be slashed by two-thirds. The Public Regulation Commission last week suggested reopening hearings so Public Service Co. of New Mexico could provide more information about the Palo Verde nuclear power plant. The utility declined, saying the case has been delayed long enough. PNM says it has made its case for an increase. If regulators approve the hearing officer's recommendation, PNM customers on average would see their bills increase by more than 6 percent, rather than the 14.4 percent requested by the utility.