NEW MEXICO (KRQE) – With increasing costs of inflation, New Mexico’s power bills might also up in price. The Public Service Company of New Mexico (PNM) is looking to increase its monthly rates beginning in June 2025.
“We submitted our 2025 rate request that’s commissioned on June 14. The filing is for a future test year running June 1 of 2025 through June 30 of 2026,” says Don Tarry, president and COO of PNM. The rate increase was announced during a quarterly earnings conference call in July.
PNM sent this request to the New Mexico Public Regulation Commission back in June. Their request, according to their website, says the average customer would have to pay $11.12 a month starting June 2025, and six months later, pay $12.48 adding up to a total cost of $23.60 a month.
Before it can be approved, there will be a meeting for public comment in November and February. In a previous interview about the rate increase process, PNM Communications Director Ray Sandoval said how long the process can last.
“This public process, which can last almost a year to a year and six months, sometimes even two years. Actually, what gives everybody the opportunity to kind of look at whether or not those rates are reasonable,” Sandoval said.
The public hearing will be on November 7 from 4:00 p.m. to 7:00 p.m. at 1021 Eubank Blvd. NE.
