Sep. 10—A hearing starts Wednesday to consider the Public Service Company of New Mexico's 2025 renewable energy plan.
The plan proposes slightly cheaper renewable energy charges that PNM customers pay.
Currently, PNM's tariff rate is $0.008 per kilowatt-hour. PNM's plan would decrease that to $0.0071 per kilowatt-hour starting in January.
For the average residential customer using 1,000 kilowatt-hours per month, the average monthly bill would decrease from $117.89 to $117.06 under the plan.
The renewable energy tariffs are a way for PNM to recover costs incurred for procuring or generating renewable energy, since state law mandates public utilities' portfolios include certain amounts of renewable energy.
In 2025, renewable energy has to make up at least 40% of PNM's retail sales, according to the Energy Transition Act.
PNM's 2025 revenue recovery is 6.7% less than 2024 at $58.7 million, according to PNM's 2025 renewable energy plan.
The hearing may extend into Thursday if it's necessary.
The New Mexico Public Regulation Commission is accepting public comment related to PNM's request at the hearing and anytime via email at prc.records@prc.nm.gov.
PNM has another active case at the PRC seeking to increase rates by about $23 over the next two years. State regulators haven't come to a decision on the case yet.