PUBLIC UTILITY RATE STRUCTURES

HB 91 amends New Mexico's public utility law to allow utilities to propose new rate structures for specific purposes. It specifically permits the Public Regulation Commission to approve rates designed for economic development, retaining existing customers, reducing energy costs for low-income households, decreasing outstanding bills (arrears), and increasing payment frequency to improve service continuity. These changes directly affect utilities (like electricity and gas providers) and low-income customers who may benefit from more affordable service options. The bill takes effect July 1, 2025, and was signed into law after passing both legislative chambers.