Albuquerque Journal (Albuquerque, NM)

N.M. Provider Seeks Electric Rate Hike.

Byline: Journal Staff and Wire Report

Southwestern Public Service Cites Soaring Natural Gas Costs

Southwestern Public Service says dramatically rising natural gas prices have forced the company to seek a 12.2 percent rate increase for its 106,000 electric customers in New Mexico.

SPS has asked the state Public Regulation Commission to increase the recovery cost portion of customer electric bills starting next month. Texas regulators have already approved an increase on a temporary basis.

An average SPS residential customer, who uses about 530 kilowatt-hours a month, will see about a $4.70 monthly increase if the increase is approved, company spokesman Bill Crenshaw said Thursday. …

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