Utility rates keep going up

Utility rates keep going up

It’s not like we didn’t tell you so, but we did tell you so.

In response to increased costs, PNM is asking for new rates — and this is after they just received a rate hike.

And it is not just PNM. Los Alamos recently approved a rate hike — in both electric and water rates.

Meanwhile, New Mexico’s largest utility company announced it has proposed new electric rates to help the state prepare for future demand and the need for cleaner energy sources.

“New Mexico’s economy and its population are growing rapidly, and so is its need for more electricity,” said Pat Vincent-Collawn, president and chief executive officer of Public Service Company of New Mexico. “These proposed rates are part of our larger effort to prepare for New Mexico’s energy future, which includes new sources of power, reduced emissions at our main power plant, and increased investment in renewable energy and energy efficiency.”

The proposed rate increase will be considered by the Public Regulation Commission and a public hearing could be held early next year. The average increase for residential, small business and industrial customers would be 18 percent.

If approved, the new rate could go into effect by August 2009.

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