We don’t like asking for rate increases but sometimes they are necessary to provide the safe, reliable energy you expect. Here’s the breakdown of what we are asking for: More than half is for investments in our system to keep your lights on, a quarter is for investing in clean energy and environment and less than 4% is for the cost of operating our system.#PowerforProgress
From 2011 – 2016, PNM will have spent over $650 million to keep the lights on 24/7, protect the environment and responsibly add cleaner energy, including solar. These are benefits customers are receiving, but not yet paying for. That’s why we’ve re-filed our rate case. But here’s the good news – in Jan. 2016, reductions in fuel costs could help lower avg. residential bills by as much as 7%, offsetting the increase expected next summer.
The fuel charge you pay each month went down in January and will significantly offset the impact of our increase if it is approved.
So, to explain how this may increase your bill this year:
- Customers living in the Albuquerque metro area (including communities in Bernalillo, Sandoval & Valencia Counties), Santa Fe, Las Vegas, Clayton, Deming and Tribal communities, click here
- Customers living in Alamogordo, Ruidoso, Ruidoso Downs, Tularosa, Silver City, Lordsburg, Bayard, Santa Clara, Gila, Hurley and Cliff, click here
No one likes their bills to go up, but as PNM recovers the investments made to keep our electric system reliable, environmentally friendly and affordable, customers will also enjoy some relief. At the same time, your PNM electric bill will remain a good, affordable value.