Xcel Energy, customer groups reach agreement on New Mexico base rate increase

ROSWELL – Xcel Energy’s Southwestern Public Service Company (SPS) has reached an agreement with New Mexico customer groups to increase base rates, a measure driven in large part by the costs of new power generation and the increases in the cost of doing business.

SPS has submitted the agreement to the New Mexico Public Regulation Commission (NMPRC) and hopes to have new rates in place by July 1.