PNM rates to rise in July

Public Service Company of New Mexico customers in parts of New Mexico will see an increase in their electric rates beginning Wednesday.

[LOL]

It's just PNM's little way of saying "Thank You" for conserving all that electricity with flourescent bulbs and decreasing our revenue stream.

[Conrad]

Okay, so now we must pay more in energy surcharges and taxes to support and subsidize inefficient uneconomical green energy boondoggles. Yuck!

[Matt]

I love the qualifier, "...rates are still lower than regional and national averages." The fact you have to say that, PNM, tends to imply that you don't have a solid case to justify the rate increase that the public is willing to accept. By the way, interest rates are higher because YOU took bad risks.

[Original Duke]

This is absurd.. and we take it.. it’s about time we have another power and gas company come into this state and compete.. do you know that PNM buys its power from speculation and they are not held accountable if they get it wrong or right.. they pass the buck to the consumers... and every year they ask for a rate hike and every year they get it.. Why? Because the board is corrupt… they pass their mistakes to us, the board gets its kick backs… we need fair competition.. other states have done this and we need to follow.. PNM and the Gas company are crooks.. we all know it..but we do nothing about it…….

[The Good Shepherd]

Well said Original Duke

I agree with you one 100%

I wonder how much in bonuses the top brass at PNM and the Gas Company get?
How much compensation a month or how about retirement perks?

We should know, PNM is a public company

[Takin my Money]

I swear at the current rate the property taxes, insurance rates and utilities are going up we will all be poor.

[Mr Gecko]

I don't care how expensive my electric bill gets........

......because I saved a fortune on my car insurance by switching to Geico!

[King Jeremy the Wicked]

Original Duke wrote:

This is absurd.. and we take it.. it’s about time we have another power and gas company come into this state and compete.. do you know that PNM buys its power from speculation and they are not held accountable if they get it wrong or right.. they pass the buck to the consumers... and every year they ask for a rate hike and every year they get it.. Why? Because the board is corrupt… they pass their mistakes to us, the board gets its kick backs… we need fair competition.. other states have done this and we need to follow.. PNM and the Gas company are crooks.. we all know it..but we do nothing about it…….

I agree with you on this believe it or not. It is going to get worse though with the legislation that they are trying to pass right now in Washington. I heard that the original rate increase that PNM was about 30%+. We need to educate ourselves on all of this stuff and come together to make sure that none of us are taken for a ride...wait a minute we are on the roller coaster right now.

[ts14fan]

Yeah, just wait until the Waxman-Markey bill (AKA cap-and-tax) bill is passed, this increase will be peanuts compared to what will happen!

[Average Joe]

Hey Original Duke,

Can you provide proof that PNM buys it power on speculation? Your other accusations are absurd also. Making blanket accusations isn't helpful or constructive.

As for competition, If you have any understanding of Economic principles,you would see that Utilities fall under the category of Natural Monopoly and are thus regulated by a government body that looks after the interests of all stakeholders involved,especially the consumer. This rate hike has been approved by the PRC after a geat deal of analysis from all stakeholders. Nobody likes to pay more but we are all aware of current world economic conditions of which can't be attributed to a Utility.

[Roland]

Mr Gecko wrote:

I don't care how expensive my electric bill gets........
......because I saved a fortune on my car insurance by switching to Geico!

Actually, Geico is $100 more expensive for a 6-month period than the car insurance I have with Farmer's for the same coverage. I think Gecko is giving you a bunch of nonsense.
I think insurance, property taxes, and utilities will eventually drive you to the poor house. There is nobody looking out for the average individual. Too many crooks specially in the PRC.

[car]

PNM rate increases are about as common as USPS rate increases. Once a year with the promise it will be the last one for five or more years.

I am sick of the lies used for rate increases. Just say the truth: we want a rate increase so we can make more money.

If PNM or USPS wanted to really help, they would be charging more to the commercial biggies that generally get it cheaper because of 'discounts for quantity'.

[Santa Fean]

WHERE IS THE PRC!!!!!!!!!!

[VJB]

Santa Fean wrote:

WHERE IS THE PRC!!!!!!!!!!

Ummmm....the PRC are the ones who allow PNM to hike its rates. That's where they are.

[Greg]

Everyone should petition this nonsense. I mean EVERYONE. This should not be tolerated.

[cgg]

"PNM Raises Rates." How is this news? It's like saying "Governor Richardson has a bad idea" or "Car dealers cheat customers" or "Sun makes sidewalk hot"

[penyfromheaven]

Isn't that wonderful they may see an increase but residental customers get jacked. We need a alternative other than PNM

[Out West]

Original Duke wrote:

This is absurd.. and we take it.. it’s about time we have another power and gas company come into this state and compete.. do you know that PNM buys its power from speculation and they are not held accountable if they get it wrong or right.. they pass the buck to the consumers... and every year they ask for a rate hike and every year they get it.. Why? Because the board is corrupt… they pass their mistakes to us, the board gets its kick backs… we need fair competition.. other states have done this and we need to follow.. PNM and the Gas company are crooks.. we all know it..but we do nothing about it…….

Sounds just Socorro Electric Co-OP

[Jupiterman]

This is a monopoly business plan Mr. Sterba...you have MORE customers now contributing MORE money to the till...why don't you get a bank loan to build the new facilities...its called planning...while you think about that concept Mr. Sterba...why don't you take a pay cut

[Matt]

Original Duke wrote:

This is absurd.. and we take it.. it’s about time we have another power and gas company come into this state and compete.. do you know that PNM buys its power from speculation and they are not held accountable if they get it wrong or right.. they pass the buck to the consumers... and every year they ask for a rate hike and every year they get it.. Why? Because the board is corrupt… they pass their mistakes to us, the board gets its kick backs… we need fair competition.. other states have done this and we need to follow.. PNM and the Gas company are crooks.. we all know it..but we do nothing about it…….

Incorrect. As a former PNM employee and now a NM Gas Company employee I can say with certainty we did not buy power nor do we buy gas in the manner you describe.

They were held accountable, by the PRC which is forbidden to get kickbacks and has often lowered or denied PNM rate cases for both electric and gas when they were still combined.

The other states you are referring to let people choose their supplier, but it won't do you any good. You're not going to save hundreds of dollars a year doing that. We buy our natural gas from the same people you would be if you could choose to bypass us, and even if you could, you would still pay to use OUR infrastructure unless you want to build your own pipelines which I suspect you won't and neither will another company looking to offer service. You don't understand how the business works at all.