PNM’S RATE HIKE REQUEST JUST GOT SMALLER. THE UTILITY INITIALLY WANTED A 14-POINT-3 PERCENT INCREASE, WHICH WOULD HAVE BROUGHT IN JUST OVER 99 MILLION DOLLARS MORE A YEAR. BUT A SETTLEMENT AGREED TO LAST FRIDAY DROPS THE RATE HIKE TO NINE PERCENT, WHICH WOULD GENERATE 62-MILLION DOLLARS A YEAR FOR PNM.
IF APPROVED BY THE PUBLIC REGULATION COMMISSION, IT’LL BE PHASED IN OVER TWO YEARS, HIKING THE AVERAGE RESIDENTIAL MONTHLY BILL BY 4 PERCENT NEXT YEAR … AND 3-POINT-4 PERCENT IN 2019.
