PNM Rate Hike Rejected
The Public Regulation Commission voted unanimously to reject PNM’s application to raise rates by 16 percent for residential users.
Last month, the hearing examiner for the case recommended the commission reject the utility’s request, because PNM hadn’t provided enough supporting documents to explain why it was necessary to charge more for power. PNM plans to re-file the case in September.
The utility has raised prices for residents by more than 50 percent since 2008.