Hearing Examiner Backs Big PNM Rate Hike
New Mexico – A hearing examiner is backing a proposed 11 percent base rate increase for customers of New Mexico's largest electric utility.
It is now up to the state Public Regulation Commission to make a final decision on Public Service Company of New Mexico's rate plan.
Hearing examiner Carolyn Glick signed off on the increase, although she suggested that a one-time $20 million charge requested by the utility for capital projects be eliminated.
PNM says the base rate increase would add more than $6 over two phases to the monthly bill of a typical residential customer. The first phase could take effect as early as August.
Responses to the hearing examiner's recommendations are due Friday.
Information from: Albuquerque Journal, http://www.abqjournal.com
Copyright 2011 The Associated Press.