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Regulators agree to higher PNM rates

Updated: Friday, 29 May 2009, 12:23 AM MDT
Published : Thursday, 28 May 2009, 4:33 PM MDT

    SANTA FE (AP) - Rates are going up for many PNM customers this summer.

    The state Public Regulation Commission on Thursday approved a 9.7 percent increase for residential customers of the state's largest electric utility.

    PNM spokeswoman Susan Sponar said that amounts to a total of $4.71 for the average residential customer.

    She said $2.11 of the increase will go into effect in July. The remaining $2.60 will go into effect next April.

    Sponar said most PNM business and industrial customers also will see increases.

    But she said rates will not go up for customers in the southern New Mexico communities of Lordsburg, Bayard, Silver City, Tularosa and Alamogordo because those rates were set in a previous agreement.

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