PNM rate cut should be approved by regulators, hearing officer says.(Local News)

Byline: THE ASSOCIATED PRESS

A hearing officer has recommended that state regulators approve an agreement that would reduce electric rates by $34 million for all Public Service Company of New Mexico customers.

Customers could see the reduction as soon as next month's bill if the New Mexico Public Regulation Commission approves the rate cut this month.

The cut, which would be retroactive to July, would drop residential rates back to where they were in 1985, said Don Brown, a PNM spokesman. The average electric bill would fall by more than $3 to $45.95, he said.

In a 59-page recommended decision issued last week, hearing officer Peter …