PNM asks state regulators for 14% average system rate hike

ALBUQUERQUE, N.M. (AP) – New Mexico’s largest electric provider has asked state regulators for an average system rate increase of 14 percent.
Public Service Company of New Mexico’s application with the state Public Regulation Commission seeks an increase of $99.2 million and a return on equity of 10.125 percent.
The overall 14.3 percent rate increase would be spread out over two years to soften the impact for customers.
The rate increase would mean all classes of customers woul