ALBUQUERQUE, N.M. (AP) — New Mexico Gas Co. wants to recover costs associated with dramatic spikes in natural gas prices over the winter.
The utility said Tuesday it has filed an application with the state Public Regulation Commission. The proposal calls for spreading the recovery of the costs through December 2023 in order to minimize the effects on customers' monthly bills.
If approved by regulators, the average increase for customers would be about $5.70 per month, or about 10%. Utility officials say the costs faced in February were unprecedented and the market conditions forced the company to pay higher prices.