The bill amends Section 62-8-6 of the New Mexico Statutes to allow public utilities greater flexibility in establishing rate structures. It maintains the prohibition against unreasonable preferences or disadvantages in rates or services among different corporations or individuals but introduces specific exceptions. The New Mexico Public Regulation Commission is now permitted to approve various types of rates, including economic development rates, rates aimed at retaining load, and programs designed to alleviate energy costs for low-income customers, as well as energy efficiency programs under the Efficient Use of Energy Act.

The effective date for the provisions of this act is set for July 1, 2025. This legislative change aims to enhance the ability of public utilities to implement targeted rate structures that can support economic development and assist vulnerable populations in managing their energy costs.

Statutes affected:
introduced version: 62-8-6
Final Version: 62-8-6