PNM to reduce proposed rate hike thanks to change in tax rules

News

ALBUQUERQUE, N.M. (KRQE) – It looks like PNM customers won’t have to pay a hefty rate hike after all.

The state’s Public Regulation Commission approved a hike of 9 percent for the average customer last month.

Now, PNM says thanks to the change in federal tax rules, they’ll be saving more money than expected.

The company’s still working out the details with the PRC, but it looks like the hike will be reduced to 1 or 2 percent.

All the parties still have to sign off on the agreement.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Video

Now Trending on KRQE.com

Video Forecast

Connor's Saturday Evening Forecast

Thumbnail for the video titled "Connor's Saturday Evening Forecast"
More Weather Video Forecast

Don't Miss

More Don't Miss