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    NM regulators approve rate increase for NM Gas Co.

    SANTA FE, N.M. (AP) — New Mexico regulators have approved a $21.5 million rate increase for New Mexico Gas Co.

    The Public Regulation Commission made its decision Tuesday after a two-hour meeting in which commissioners heard recommendations from a hearing examiner and the utility's attorneys.

    The rate increase was $13 million less than what the utility initially requested. Commissioners say they approved the lower rate to ease the burden on low-income customers.

    The rate hike will take effect Wednesday.

    New Mexico Gas officials say residential customers will see their monthly bills increase by an average of $3.19, or about $38 a year.

    The 6.4 percent rate increase stems from a settlement reached last fall by the utility, ConocoPhillips, an advocacy group and the U.S. Department of Energy.

    New Mexico Gas, which is a unit of privately-held Continental Energy Systems LLC, serves about 505,000 New Mexico customers.

     

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