New Mexico regulators have rejected a proposal by the state's largest electric utility to raise rates and charge more for new solar customers to connect to the grid. The Public Regulation Commission voted unanimously during a meeting Wednesday in Santa Fe. The vote follows a hearing examiner's recommendation that the utility's application be denied over concerns that it was incomplete.
Environmentalists argued that PNM failed to provide regulators with enough information to justify a 12 percent rate hike.
The utility says it's disappointed and accused the commission of being inconsistent in applying standards related to such rate cases. PNM could either appeal or file a new application.
The utility had said the increase was needed to help cover the costs of new solar-power generating stations, pollution controls and other infrastructure.
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