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SB 498: LIMIT UTILITY COSTS WITHOUT NOTICE & HEARING

An Act Relating To Public Utilities; Limiting Costs That Can Be Charged By Certain Electric Public Utilities Without Notice And Hearing.

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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):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
Fiscal Impact Report

Related Events

Upcoming:
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.