PNM asks for 23% rate increase

As we’ve said from its inception back in 2019, the Energy Transition Act is going to reduce reliability and increase electricity prices. According to news reports PNM has requested rate increases totaling 23% from 2025 to 2026. According to the ABQ Journal article, “many of the costs associated with PNM’s new proposal are focused on infrastructure needed for a state-required renewable energy transition.”

This is hardly a surprise. The Energy Transition Act’s demand for ever-increasing amounts of “renewable” electricity are unrealistic and simply won’t happen despite reassurances to the contrary.

A recent report from Wallethub ranked New Mexico as having the 2nd-least expensive electricity bills in the nation. But, that is a function of our favorable climate, not low electricity prices. New Mexico’s per-KWh electricity prices are neither among the 10 cheapest nor are they among the 10 most expensive.  New Mexico is by no means the ONLY state to have embraced anti-energy policies. California is among the states with the highest electricity prices (thanks to their “green” energy policies). Just give New Mexico time.