Santa Fe, NM -
"Today the Public Regulation Commission was presented with four options to address PNM’s rate increase request. While all four options included rate increases, the one that passed today will have the smallest impact on consumers,” said Carmela Starace, lead council for Prosperity Works. “We wish to thank Commissioners Marks, Block and Aguilar for their vote on behalf of New Mexico’s consumers.”
PNM’s original request was for $165 million, followed by a revised request of $105 million. Today, Commissioner Marks presented an alternative proposal that cut the rate increase all the way down to $72 million. Commissioners Marks, Block and Aguilar led the way in getting consumers the best deal possible today.
In these tough economic times, it is hard to swallow any increase in utility bills. That said, the three commissioners who voted for the $72 million rate increase today did a service to the people of New Mexico, saving ratepayers about $60 million dollars over the next three years.
Starace pointed out, “Let me be clear, one of the commissioners who voted against the Marks plan did so - not because he was against a rate increase but because he favored the plan that would have cost New Mexicans the most money and put it right into PNM's pocket. Today, three commissioners did the best they could with what was before them. They should be applauded for working on behalf of New Mexicans to make sure that PNM didn't get a penny more that it could justify.”