PROPOSED 2024 RATE ADJUSTMENT
New Mexico Gas Company has applied to increase the rates we charge our customers. The New Mexico Public Regulation Commission will review and rule on our application between now and late next summer. New rates would take effect a year from now, in October 2024.
We are asking for this increase for several reasons, primarily related to the cost of capital investments to operate our system and provide safe and reliable service. A major factor in these costs is Increasing federal and state regulations regarding pipeline safety and operations.
We are also planning to replace our customer billing and account information system, and we are experiencing pressures on costs for retaining and attracting a skilled workforce to serve our customers.
The requested increase would mean an average residential bill (a customer using 53 therms of natural gas per month) would go up by about $6.70 a month, an 11% increase compared to current bills. The actual change will depend on each customer's specific usage.
While we understand that any rate increase is challenging, we believe this is needed to meet our obligation for safely providing reliable natural gas service to New Mexicans.
More information is available on the Regulatory Page of our website.
Although bills are not increasing now, please remember that you can always sign up for budget billing, a program that averages your annual gas usage and then bills you equally over 12 months.
And, as we enter the winter heating season, a reminder that New Mexico Gas Company has bill assistance programs for those who need help. Customers can call weekdays from 7:30 a.m. to 6 p.m. at 1-888-664-2726, visit one of our 22 walk-in payment centers or visit the assistance page on our website.