FRIDAY, JANUARY 19TH IS THE DAY PUBLIC SERVICE OF NEW MEXICO HAS TO DECIDE IF IT’LL ACCEPT THE 1-AND-A-HALF PERCENT RATE HIKE RECENTLY APPROVED BY THE PUBLIC REGULATION COMMISSION. PNM INITIALLY ASKED FOR A 14 PERCENT INCREASE, BUT THE PRC FIRST DROPPED IT TO NINE PERCENT … THEN THIS WEEK VOTED TO MAKE IT A 1-POINT-4 PERCENT HIKE.
THE MOST RECENT REDUCTION OF THE RATE INCREASE COMES AFTER PNM SAID IT NEEDED THE EXTRA MONEY TO COVER WHAT IT SPENT ON INVESTING IN ONE OF THEIR COAL FIRED POWER PLANTS IN NORTHWESTERN NEW MEXICO.
