Xcel Energy proposes rate increase for New Mexico customers to state officials

Xcel Energy proposes rate increase for New Mexico customers to state officials

ROSWELL, N.M. (KFDA) - Xcel Energy customers in New Mexico could see a higher electric bill if a proposed rate change is approved by the New Mexico government.

According to an Xcel news release, the rate change would increase electric bills for customers by around 7.5 percent per month.

The company said the increase would help recover the costs of new projects across the eastern and southeastern portions of the state.

Xcel is currently at work on the Sagamore wind Project near Portales, which is expected to be finished in 2020.

The new rate will take effect in mid-2020 if approved.

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