Down Low Dealings at PNM Regarding Rate Hikes

By Tracy Dingmann

Six local watchdog groups have filed statements in opposition to PNM’s plan to raise rates for electric service in New Mexico, saying the company negotiated the rate hikes in secret and without input from customers and other parties opposed to the rate hike.

The state’s largest electric utility had announced recently that it would seek a rate hike of as much as 25 percent on residential customers.

Subsequently, executives from PNM, along with members of the Public Regulation Commission and staffers from the office of the New Mexico Attorney General carried out negotiations regarding the rate hike and came up with a figure that appeared much lower.

Now representatives from six citizen’s advocacy groups say the groups negotiated the hike behind closed doors and did not take input from the people who will most be affected – the customers. The groups also say the negotiated agreement contains measures that will make it very easy for PNM to charge customers more again in a few short years.

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