PNM Details Effects Of Rate Hike For Electric Customers

ALBUQUERQUE, N.M. (AP) — Customers of New Mexico's largest electric provider will see their bills increase soon. The state Public Regulation Commission this week approved the rate increase after more than a year of debate, public hearings, protests and legal challenges. The new rates will take effect once commissioners sign off on a filing by Public Service Co. of New Mexico that details the effects of the higher rates. That's expected to happen Friday. Officials initially said the increase would amount to roughly 10 percent, but PNM spokesman Pahl Shipley says calculations show the overall average increase will be closer to 7 percent. The utility had initially requested an increase of more than 14 percent, saying it needed to recoup hundreds of millions of dollars that have been spent on infrastructure.