Albuquerque, NM (KKOB) — The Public Service Company of New Mexico has agreed to accept a lower rate increase than they wanted. The approved new rate for PNM should still raise rates nearly $10 a month. The utility had requested a total of $174-million in added revenue, but the Public Regulation Commission agreed to give them $104-million. That will increase the average monthly rate by $2.79 starting next July, then add another $7 in April of 2026. PNM’s initial request would have cost customers $23 more a month, but the Commission said no.
