New Mexico Electric Rates Skyrocket with More Increases on the Way

New Mexico Electric Rates Skyrocket with More Increases on the Way

August 23, 2021

From May of 2020 through May of this year, New Mexico “enjoyed” some of the fastest-growing electric rates in the country.

You can’t say you weren’t warned.

According to this report at Choose Energy, New Mexico’s electric bills are up 8.7 percent over last year, the 6th highest increase in the nation. The increase comes at a time when many states are seeing their rates decrease. The state with the highest increase? You guessed it, California’s electric bills are up over 21 percent from last year and they now pay the most of any of the lower 48 states.

In early 2019, New Mexico’s eco-left politicians celebrated as they passed their own “mini” Green New Deal. Despite repeated warnings the law would cost jobs and raise rates on working families, the Green Agenda was more important. And now, the consequences are all too real.

Even worse, two out of the three state-owned electric utilities are petitioning state regulators to increase their “renewable rider” fee. This fee is in nearly every electric bill in New Mexico and is separate from what families pay for electricity.

New Mexicans are learning that even though supporters of the Green Agenda promise lower electric bills, it’s working families who pay extra when the promise is broken.