New Mexico
PNM customers could see increase in electric bill
With temps still in the 90’s, a lot of us aren’t even close to turning off those A/C units.
That means your electric bill could still be hurting your pocket book every month. Now, there’s a chance your bill could be even higher.
ALBUQUERQUE, N.M. – With temps still in the 90’s, a lot of us aren’t even close to turning off those A/C units. That means your electric bill could still be hurting your pocket book every month.
Now, there’s a chance your bill could be even higher.
Nothing is official yet, but you may have already gotten a pamphlet in the mail from PNM.
A spokesperson with the company says the pamphlets and other outreach methods like social media posts are to inform customers of a possible rate increase. But that doesn’t mean your bill is going up next month.
According to a PNM spokesperson, the company filed a 2025 rate request with the New Mexico Public Regulations Commission.
PNM says this is just the first step in a yearlong process.
Any rate adjustment has to be approved through the New Mexico Public Regulation Commission. The commission will hold a public process to review the rate request and decide on a final rate adjustment.
PNM says the proposed rate change will be applied over two phases in mid-2025 and January 2026.
The average monthly increase is projected to be $11.12 a month and $12.48 per month in January 2026.
KOB 4 asked PNM customers what they thought about this proposal.
“Everything just keeps going up, everything, everything just keeps going up. We don’t need an increase in electricity. We just got an increase in water bill, so now electricity and next will be the gas bill,” said Betty Pena, a PNM customer.
PNM issued the following statement on the possible rate change and the process of getting it changed:
“We are committed to keeping customers informed of any potential rate changes as we work through this year-long process. We sent all customers notices of the rate request, posted the rate request on our social media channels and our customer website. Additionally, any rate adjustment requires approval from the New Mexico Public Regulation Commission which will hold a public process to review the rate request and determine a final rate.”
The company says it held off on rate increases through COVID-19 as long as it could.
The last time PNM filed for a rate increase was 2022. For more information about the 2025 rate request, click here.