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Byline: Wire reports
SANTA FE Electricity will be $34 million a year cheaper for New Mexicans, or about $3.32 a month less for the average residential customer, under a rate reduction unanimously approved by the state Public Regulation Commission.
The 6.7 percent rate cut approved 5-0 on Wednesday is retroactive to bills issued on or after July 30, but the reduction probably won't show up in Public Service Company of New Mexico bills until October, PNM spokeswoman Julie Grey said.
Bernalillo County had …