The New Mexico Attorney General's Office is opposing a prospective rate increase for the Public Service Co. of New Mexico.
The Albuquerque Journal reports that PNM has requested a 14.4 percent increase to its annual base revenue.
PNM requested the increase of about $123.5 million last August. That would raise the utility's state-generated income to about $981.5 million per year by increasing base rates paid by about 500,000 New Mexican customers.
The revenue pays for all the company's operating costs and investments in the electrical system, as well as a return on profits for shareholders.
The attorney general has called for PNM to reduce its new revenue requirements to $27 million.
A March public hearing on the topic is expected to be contentious.
___
Information from: Albuquerque Journal.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.