New Mexico regulators to rehear contentious rate case
Editors Note APNewsNow. Developing from 9:30 a.m. MT hearing.
SANTA FE, N.M. (AP) _ New Mexico regulators are scheduled to hear arguments in a contentious case regarding a rate increase for customers of the state's largest electric utility.
The Public Regulation Commission is rehearing the case Wednesday after Public Service Co. of New Mexico challenged an earlier decision that allowed for a rate hike but limited the utility's ability to recover investments made in two coal-fired power plants.
The utility was seeking to recoup about $150 million for improvements made to the Four Corners Power Plant and about $37 million in upgrades at the San Juan Generating Station, which could close as early as 2022.
New Energy Economy, an environmental group that has been critical of the utility, argues that customers shouldn't be saddled with the costs of what it considers imprudent investments.
By The Associated Press, Copyright 2018