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NM Gas Co. seeks 11% rate hike | Business | abqjournal.com - Albuquerque Journal

Albuquerque Journal · last updated

NM Gas Co. seeks 11% rate hike | Business | abqjournal.com

New Mexico Gas Co. is seeking $49 million more per year to cover the utility’s projected costs and investments going forward, potentially raising average residential consumer bills by 11% — or about $6.70 more per month — if approved by state regulators.

The company filed for a rate increase on Sept. 14 with the state Public Regulation Commission, setting in motion a year-long regulatory process that could culminate in higher consumer rates starting in October 2024. The actual amount will depend on a detailed PRC review of the utility’s real costs and proposed investments, with input from intervening parties in the case through public hearings that will likely take place next spring.

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