Public Invited to Comment on PNM’s Proposed Rate Increases

Commissioner Lovejoy Schedules Hearings in Farmington June 22

SANTA FE – New Mexico Public Regulation Commissioner Lynda Lovejoy wants to hear from the public regarding a proposal filed by the Public Service Company of New Mexico (PNM) to increase residential electric utility rates.  Commissioner Lovejoy has organized public comment hearings that will be held Thursday, June 22, in Farmington.

PNM reached a settlement last month with the New Mexico Attorney General’s Office and several other
groups that would see increased rates for residential customers phased in over the next two years.  The settlement reached in May proposes to set increases at 3.9 percent in 2018, and 3.4 percent in 2019, respectively.

The Commission will have to make a decision on that settlement before deciding whether to permit or deny the proposed rate increase.

Two public comment hearings will be held Thursday, June 22, at the Farmington City Council Chambers, located at 800 Municipal Drive, in Farmington.  The first hearing will begin at 1 p.m., and is scheduled to conclude at 3 p.m.  The second hearing will begin at 5 p.m., and is expected to wrap up at 7 p.m.