New Mexico Gas Company to Raise Rates Starting October 1, 2024
New Mexico Gas Company has been granted approval to raise customer rates, with the increase set to take effect on October 1, 2024. The company’s rate adjustment request, submitted in September 2023, was unanimously approved by the state Public Regulation Commission on July 25.
The new rates will result in an average 7.1% increase in monthly residential bills. However, the monthly access fee for residential customers will remain unchanged at $12.40.
According to New Mexico Gas Company, the rate hike is necessary to cover the costs associated with meeting expanding state and federal regulatory requirements.
