MILD
SB 498
LIMIT UTILITY COSTS WITHOUT NOTICE & HEARING
- Legislative URL:
- SB 498 on nmlegis.gov
- Emergency Clause:
- No
- Germane:
- N/A
- Location:
- SCORC
- Action:
- [5] SCORC/SJC-SCORC API.
- Issue(s):
- Energy
Related Legislators
- Bill Sponsor:
- Sander Rue
Related Documents
- Downloads:
-
Introduced
Fiscal Impact Report
Summary
This bill provides that, except as otherwise provided by law, an increase in rates or charges by a public utility will be permitted only after 30 days public notice and a hearing by the PRC:
- if the rate increase is based upon cost factors other than taxes; and
- if the utility:
- owns, operates, leases or controls any plant, property or facility for the generation, transmission or distribution, sale or furnishing of electricity to the public; and
- is not a rural electric cooperative or a foreign distribution cooperative.
A potential benefit of this bill might be that more electricity rate increases will be subject to advance public notice and hearing at which the utility would need to justify its proposed increase rather than automatic adjustment for fuel and purchased power costs.