Regulators to Take More Testimony on PNM Rate Case

ALBUQUERQUE, N.M. (AP) — New Mexico regulators are preparing to take more testimony on a request by the state's largest electric provider to raise customer rates. The Public Regulation Commission called for another hearing after questions were raised about costs incurred by Public Service Co. of New Mexico when the utility purchased rights to more electricity produced by a nuclear power plant in Arizona. The power from the Palo Verde Nuclear Generating Station is intended to help fill the void in 2017 when PNM closes part of the coal-fired San Juan Generating Station in New Mexico under an agreement with state and federal officials. Some environmentalists have protested the additional nuclear power. PNM first filed its rate request in December 2014. If approved, customers would see an average increase of more than 14 percent.