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Article: New Mexico Utility Customers Don't Benefit from Drop in Natural-Gas Price.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 29, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Rosalie Rayburn, Albuquerque Journal, N.M. Knight Ridder/Tribune Business News
Dec. 29--ALBUQUERQUE, N.M.--The plummeting price of natural gas in recent months is translating into lower electric bills for thousands of New Mexicans -- but no changes for PNM customers.
One reason is that the utilities dropping customer charges use more natural gas to generate electricity. On the other hand, while Public Service Company of New Mexico relies mostly on coal and nuclear power.
PNM's rates also are frozen through January 2003. Its 360,000 electric customers saw prices drop in 1999 when the Public Regulation Commission approved a cut that took ...