PRC approves new PNM rate increase

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ALBUQUERQUE, N.M. (KRQE) – Get ready for another bump in your PNM bill. Wednesday, the Public Regulation Commission approved another rate hike, this time 8 percent.

PNM also raised rates in 2016 by about 9 percent. The newest rate increase will be implemented over two years.

The PRC did vote down a request by PNM to recoup $150 million it spent on improvements to the Four Corners power plant near Farmington. That would have increased bills even more.

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