PRC head predicts PNM rate hike up to $36M

The Chairman of the New Mexico Public Regulation Commission says that he estimates Public Service Company of New Mexico will be granted a rate hike of between $32 million and $36 million.

[V Gotti aka Annette]

Great. Just Great.
We'll all soon be a nation of homeless people.

[Payback is a bit_h]

PNM is so full of shit

[Farmington Res]

Half the people in NM can't afford the rates now. The elderly now will have to wear all their long under garments to keep warm. NM is already one of the poorest states in the country now PNM will make it the poorest. Thank for nothing PNM

[Bob]

Four years and I retire. What then? I'm out of this rediculous state. There are states all around the country that are 30% overall less cost of living. Here every time you turn around, something is going up. There is nothing good about this state that makes it worth it. I've turned a lot of friends away from moving here. I'll continue doing that as long as I'm here. Best way to see NM is in your rearview mirror. Govenor. Mayor. You can keep this messed up state.

[Jim]

PNM only cares about their fat pocketbooks and bank accounts. Because of those aholes, water rates are now going to go up to. What they need is a competitor to compete against them. But that won't happen because they have a monopoly going on. Let the state get poorer. Let the poor freeze. They don't give a rats a. I curse PNM and may God condem them.

[Ron Louver]

What I would like to see happen is a regulation passed that if the power company needs the increase for fuel and operation cost, and it is taken directly and quickly, than anytime a reduction is available it also should be posted immediately to the customers accounts, just as quickly as they seem to have the ability to take it from the consumer.

[Ron Louver]

Bob, I certainly hope you do not set your sights on Florida, as I am moving to NM to get away from what you consider a costly area, take a look at the Florida Taxes, insurance and cost of living, you may want to reconsider moving!!!!!

[mana]

Monopoly...

[Bill in Sani Flush]

PRC Loop de-averaging cost on the phone bill? Cancelled two business lines because of the Prick-R-C!
One of the ex'es running for Senate.
Keep voting the self centered pricks into office and none of us can afford NM.
The flyer in the PNM bill=Shred it and mail back with your pmt. Let them pay to dispose of it. Enough people send it back and we can bury them under the useless trash.
They should cut cost first. Stop printing the garbage!

[Bill in Sani Flush]

Don't think this is offensive unless you are one!
P*R*I*C*K*S

[CornDog]

Makes me wonder how much of this increase is needed due to NM related business as opposed to business in other states and stupid investments & company purchases by PNM. They seem to have a number of companies elsewhere, of which not all are energy related, and many more not related to business in NM.

[evil todd]

So, we have a "wet" year, have lowered water usage and they want to increase their rates.

Man, this is such a sham.

Gov. Richardson, I request that you meet with PNM on behalf of the 2 million hostages in the state of New Mexico, that are being held by PNM, and negotiate their release.

[ABQ Skeptic]

What I have to wonder about it two fold. The monopoly PNM has on us average citizens. PNM raises rates whenever it feels the need, usually when usage is going to be high on that product. Last winter is was natural gas, no electricity.

Competition is a good thing and we need to have some of that going on here to keep PNM honest. Well, not much chance of that but we can try.

I also wonder how much funny money the commisioners of the PRC will get from PNM for making the decision to allow $8 -$10 million more than the other survey allowed???? Will we ever really know???

[Timetogo]

Why do the water rates have to go up because PNM gets a rake hike? I don't see the connection. Oh, wait! It's New Mexico! That's it. All the good ol' boys are still in charge. I'm with Bob. Soon as I can I'm getting out of this State. Cost or living is high, and no protection for workers - this place is so far behind the times..... in everything!!!!

[V Gotti aka Annette]

evil todd wrote:

Man, this is such a sham.
Gov. Richardson, I request that you meet with PNM on behalf of the 2 million hostages in the state of New Mexico, that are being held by PNM, and negotiate their release.

LOL LOL

What are the chances we can get an economic stimulus check every month for the rest of our lives... from the feds and the state

LMPAO my poor A O

[CornDog]

evil todd wrote:

So, we have a "wet" year, have lowered water usage and they want to increase their rates.

Decreased revenue due to us using less, just like PNM has done in the past with Natural Gas rates.

Timetogo wrote:

Why do the water rates have to go up because PNM gets a rake hike?

Probably due to increased electricity costs to run all the pumping stations(?).

[WorkingStiff]

PNM is greedy but the real crooks are the PRC. They rubberstamp anything that comes their way. They are a waste of Taxpayer money. Light up another reefer PRC folks and get to work for the good citizens in NM -NOT!! Well, at least the part about the reefer. Keep your crack pipes at home when you travel on airlines, yes, we remember that little episode about 5 years ago.

[Meanie]

*throws hands up in the air* Since I'm being robbed every time I turn around, I might as well assume the position. Or should the position be different since I'm getting s*c*r*e*w*e*d anyway.

[jim E]

it's only money, money is overrated lol

[Just Get Revenge]

While everyone else struggles, PNM (as a regulated monopoly) gets a guaranteed profit. There is no incentive to be leaner and meaner. As costs go up, so do their guaranteed profits!

When I have enough money, I will install a solar farm for heat and electricity and ship the excess electricity back to PNM at their increased rates. Then I will be all for their rate increases!