2025 Rate Request - pnmprod
2025 Rate Request
PNM and parties file Unopposed Stipulation in 2025 Rate Request
We are grateful for the hard work by parties to our rate review to find common ground and reach an unopposed stipulated agreement. The agreement supports ongoing reliable service, security, wildfire risk management, and new energy resources necessary to continue transitioning to a zero-carbon future.
Customer Notice
This is NOTICE of a rate proceeding before the New Mexico Public Regulation Commission and how it could impact your bill, and information about how you can participate in the process.
CORRECTION: The Notice of Proceeding and Hearing concerning PNM's 2025 Rate Request mailed to all PNM customers contained an incorrect email address. The correct email address to submit written comments is prc.records@prc.nm.gov.
Public Comment Hearing
The NMPRC is holding a Public Comment Hearing on PNM's 2025 Rate Request (Docket No. 24-00089-UT) scheduled for Jan. 15, 2025, 4:00 p.m. to 7:00 p.m., at the New Mexico 811 building, 1021 Eubank Blvd. NE, Albuquerque 87112. For details about how you can participate see the Notice of January 15, 2025 Public Comment Hearing .
About the 2025 Rate Request
PNM filed a 2025 Rate Request with the New Mexico Public Regulation Commission. This is the first step in a year-long process. Any rate adjustment requires approval from the New Mexico Public Regulation Commission which will hold a public process to review the rate request and determine a final rate adjustment.
This rate request reflects our core mission of providing dependable electricity with reasonable rates as PNM bills remain below the national average. Our dedicated team works tirelessly to keep power flowing to you and enhance your quality of life by minimizing power interruptions.
Reliable energy is essential to our everyday lives. Without a reliable and resilient grid our communities are diminished. This rate request ensures we can continue to keep our commitment to you.
Everyday uses for electricity are expanding rapidly, and PNM needs to make investments to fulfill its promise of reliable energy service as we transition to a carbon-free future.
For the past five years, PNM has navigated this rapidly changing landscape, during a time of high inflation, with minimal rate increases. Unfortunately, that cannot continue without risking reliability and slowing clean energy progress.
Improvements to the electric system are required to ensure customers have the power when they need it every hour of the day.
| 2025 Rate Request Main Drivers | $ in Million |
| Investments in Distribution, Transmission and Generation | $73.9 |
| Recovery of Energy Storage Agreements | $37.2 |
| Capital Costs including Higher Interests Rates | $34.0 |
| Alignment of Four Corners Coal Plant Depreciation | $19.8 |
| Wildfire Mitigation and Protection | $12.6 |
| Operations and Maintenance Increases Offset by Revenues from Increased Load | $(3.2) |
| Total Requested Rate Relief | $174.3 |
We offer a variety of programs, tips, and tools to help you become more efficient and save money.
| Resources | ||
| Frequently Asked Questions | Download | |
| Rate Request Improvements Video | Watch | |
| Financial Assistance | Learn More | |
Time-of-Day
Time-of-Day Rate Plan is a voluntary program where customers shift their power usage to lower cost time periods to lower their electric bill.
EE Programs
Energy Efficiency programs reduce customers' energy use and costs, including incentives, discounts, and rebates.
Budget Billing
Budget Billing provides customers a predictable bill to manage their budgets by balancing seasonal highs and lows throughout the year.
LIHEAP
LIHEAP (Low-Income Home Energy Assistance Program) is for income-eligible customers needing financial support with payment assistance.
Energy Calculators
Energy Calculators help customers learn where their dollars are going. These calculators will help customers find ways to save money and energy around their home and discover what the costs and potential savings could be if they make changes to their energy use.
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 once per calendar year.
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.
Average Residential Customer Bill
Comparison of Average Residential Customer Bills
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. For example, 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/Help.
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.
