New Mexico – The state Public Regulation Commission has approved a proposed settlement that establishes the rates that El Paso Electric Company can charge its New Mexico retail customers.
Thursday's settlement was supported by the Commission's Staff, the New Mexico Attorney General, the City of Las Cruces, and other parties in the rate case.
Although El Paso Electric had originally proposed a $12.7 million increase in rates, the commission-approved settlement reduces that increase to $5.5 million.
The rates are designed to encourage customers to reduce their use of electricity, especially from May to October. The rates also encourage conservation by residential customers by charging higher rates when they consume more than 600 kilowatt hours of electricity per month.
Copyright 2009 The Associated Press.