NM Gas Company Wants Big Rate Hike
New Mexico – New Mexico Gas Company is seeking a $34.5 million rate hike that would take effect next year.
The hike would initially boost the typical residential customer's monthly bill by 13 percent.
The company serves about 505,000 New Mexico customers.
New Mexico Gas Company's request was filed Friday with the Public Regulation Commission.
The average monthly gas bill in 2010 for residential users was about $53.78, although they are significantly higher during heavy use months in the winter.
The Albuquerque Journal reports that the gas company hike would be the first increase since 2007 when gas operations were still owned by Public Service Company of New Mexico.
PNM sold them to a privately held, Michigan-based company in 2009.
Information from: Albuquerque Journal, http://www.abqjournal.com
Copyright 2011 The Associated Press.