NEW MEXICO (KRQE) – The New Mexico Gas Company which provides service to more than 545,000 homes and businesses throughout New Mexico is increasing its rates this fall.
The New Mexico Public Regulation Commission unanimously approved the increase on Thursday. The average monthly residential bill will increase 7.1%. A residential customer who participates in our budget billing program and uses an average of 53 therms of gas per month, this would mean an increase of about $4.20 per month. The residential customer fixed monthly access fee will remain unchanged at $12.40. The rate increase will start Oct. 1.
New Mexico Gas Company will see a revenue increase of $30 million, compared to the company’s original request of about $49 million. The company said that the new rates will help pay for increasing costs the Company is experiencing from expanding federal and state regulatory requirements, help improve gas delivery infrastructure and replace the company’s customer billing and information system.
“We appreciate the work by all parties to engage in positive discussions and reach a resolution that ensures the Company can continue to safely provide reliable natural gas service to our customers,” said NMGC President Ryan Shell in a news release.
Customers can check their usage and determine estimated bill impacts by going to https://www.nmgco.com/en/new_rates.
