In a Public Regulation Commission hearing that began in April and resumed this week, New Mexico’s largest electrical utility is asking for a rate increase to offset the cost of acquiring power from a nuclear plant in Arizona. According to the Santa Fe New Mexican, the rate increase could be as high as 15.8 percent—that could mean between five and thirteen extra dollars per month on PNM customers’ bills.
But New Energy Economy, one of the key interveners in the hearing, says a lack of financial analysis means this rate hike is way too big for no good reason. KSFR’s Kate Powell checked in with New Energy Economy executive director Mariel Nanasi and brings us this report.