PNM loses support for rate increase request after hearings

SANTA FE, N.M. (AP) – Bernalillo County and other groups have withdrawn their support for Public Service Company of New Mexico’s request for a rate increase in light of new information provided at hearings.
The Santa Fe New Mexican reports that PNM is looking to increase its collections from customers by about $123.5 million per year, raising rates by an average of 14.39 percent. Company officials say the revenue will help cover the January purchase of an Arizona nuclear power unit.