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SANTA FE — The New Mexico Public Regulation Commission has rejected a request by the state’s largest electric utility for interim relief as regulators consider whether to approve a proposed rate increase.
The commission turned down Public Service Company of New Mexico’s request on Thursday.
PNM wanted to begin the first phase of an $85 million rate increase that was negotiated by the utility and other groups as part of a stipulation that has yet to be considered by the commission.
The interim rate increase would have totaled $45 million.
The commission’s general counsel found that PNM failed to show immediate irreparable harm in its filing for interim relief.
PNM said it’s disappointed with the commission’s decision.
The regulatory hearing on the proposed rate case stipulation is scheduled to begin in May.