2025 Rate Request - pnmprod
2025 Rate Request
About the 2025 Rate Request
NMPRC Approves Unanimous Agreement on PNM Rate Adjustment
The New Mexico Public Regulation Commission (NMPRC) approved a phased-in rate adjustment for PNM customers that enables PNM to continue to provide reliable service as it transitions to carbon-free electricity.
The rate adjustment is based on a unanimous agreement PNM reached with multiple parties, which was recommended for NMPRC approval by hearing examiners. This decision supports PNM's continued commitment to delivering reliable, secure, and sustainable electric service to its customers across New Mexico.
"This outcome ensures we can continue investing in the infrastructure and technologies necessary to meet our customers' needs and support New Mexico's clean energy future," said Don Tarry, PNM President and CEO. "We are grateful to the other parties who worked with us to reach a fair settlement."
Parties joining PNM on the stipulation included Utility Division Staff of the New Mexico Public Regulation Commission, the New Mexico Department of Justice, Albuquerque Bernalillo County Water Utility Authority, City of Albuquerque, Coalition for Clean Affordable Energy, Coalition for Community Solar Access, County of Bernalillo, New Energy Economy, New Mexico Affordable Reliable Energy Alliance, The Kroger Co., Walmart Inc and Western Resource Advocates. Other intervening parties to the application, Onward Energy Holdings, LLC and Renewable Energy Industries Association of New Mexico, did not oppose the settlement.
The rate adjustment will be implemented in two phases to minimize the impact on customers: one in July 2025 and one in April 2026. The average monthly residential bill increase in both phases will be $6.23.
The rate request supports critical investments in:
We offer a variety of programs, tips, and tools to help you become more efficient and save money.
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| Rate Request Improvements Video | Watch | |
| Financial Assistance | Learn More | |
Time-of-Day
The Time-of-Day program provides a pricing plan based on the time of day, season, and day type (weekday or weekend/holiday). Customers can lower their energy bills by shifting their electricity usage to off-peak times.
EE Programs
Energy efficiency programs provide customers with rebates, discounts, and tips to help conserve energy and reduce costs.
Budget Billing
Budget Billing stabilizes energy costs by accounting for seasonal fluctuations. Upon enrollment, participants pay a consistent monthly amount, making budgeting and financial planning more predictable and manageable.
Good Neighbor Fund
The PNM Good Neighbor Fund is an emergency fund that helps low-income customers in our service area with energy assistance when they are at risk of being disconnected.
Small changes create big results saving energy and money
UP to $180 annually
PNM offers a free home energy checkup and rebates for installing energy efficient equipment.
UP to $90 annually:
PNM provides a free seasonal AC tune-up to prepare the AC unit for summer, plus rebates on cooling equipment.
UP to $75 annually:
Customers can save up to $75 per year by recycling their old refrigerator or freezer with PNM.
There are many reasons that an energy bill can fluctuate.
Increase electricity usage.
Customers are using more electricity today than they have in past years. The addition of new electronics can continue to use power even when not in use - if the standby mode is constantly running, that means your electric meter is also running. By making small changes, customers can save money on their electric bills. Learn more at PNM.com/tips.
Extreme weather.
The effects of climate change and the increased frequency of extreme weather events, including wildfires, can have a direct impact on customer bills. These weather events can result in customers using more electricity, especially in cases of excessive heat. These events can also increase the cost of power as price fluctuations occur in the wholesale market where PNM purchases additional energy when customer demand has exceeded resource availability.
Any rate adjustment requires approval from state regulators.
PNM's rate requests reflect investments in keeping the lights on 24/7. These investments are critical to power reliability and grid security, including the poles, wires and other equipment needed to maintain and protect the system, along with supporting New Mexico¿s clean energy transition to carbon-free electricity.
