Deadline looms for decision on New Mexico rate case | KOB 4
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Deadline looms for decision on New Mexico rate case

Deadline looms for decision on New Mexico rate case

The Associated Press
January 19, 2018 10:44 AM

ALBUQUERQUE, N.M. (AP) - New Mexico's largest electric utility and other parties have to decide Friday whether to go along with a proposal by regulators that clears the way for a rate increase for customers.

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A divided Public Regulation Commission approved the revamped proposal earlier this week. It calls for spreading out a roughly 1 percent increase over two years.

Public Service Co. of New Mexico estimates the average increase would be closer to 1.4 percent when other adjustments are factored in.

The utility had initially sought a 14 percent rate hike when it first approached the commission last year.

Part of the negotiations among the utility, state attorney general's office, consumer groups and others focused on coal-related investments. The federal tax overhaul also ended up playing a role as the utility plans to pass along savings from lower corporate tax rates.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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The Associated Press

Copyright 2018 The Associated Press. All rights reserved.

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