Competitive Electric Rates a Strong Sell for New Mexico.Energy Editors/Business Editors SANTA FE Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. , N.M.--(BUSINESS WIRE)--May 18, 2004 New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). Secretary of Economic Development Rick Homans and Jeff Sterba, leader of the state's largest electric and gas utility, have a message for out-of-state businesses thinking of relocating to New Mexico: Our electricity is not only reliable, but it's also substantially cheaper. New data from the Department of Energy's Energy Information Administration shows the electric rates of Public Service Co. of New Mexico (PNM PNM Public Service Company of New Mexico PNM People's National Movement (Trinidad) PNM Perpustakaan Negara Malaysia (National Library, Malaysia) PNM Price Negotiation Memorandum ), which serves 400,000 electric customers in New Mexico, are now nearly 5 percent below the national average and more than 19 percent below the regional average. The region includes New Mexico, Texas, Colorado, Arizona, Nevada, Utah and California. The data shows average PNM rates for commercial customers are nearly 25 percent below the regional average, while those for industrial customers are more than 21 percent below the regional average. "Energy that's well priced and reliable is a key to a profitable business, and we've got it here in abundance, as this new data shows," Homans said. "PNM's intense focus on quality improvement has produced a paradox paradox, statement that appears self-contradictory but actually has a basis in truth, e.g., Oscar Wilde's "Ignorance is like a delicate fruit; touch it and the bloom is gone. that's rarely seen in the utility industry: better reliability, improved customer service, and lower rates for customers both large and small," said Sterba, PNM's chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Sterba said PNM electric rates have dropped nearly 18 percent since 1992, without adjusting for inflation. Under the terms of an electric rate agreement approved in 2002, PNM rates are set to go down by an additional 2.4 percent in September 2005 -- and will remain at that level through 2007. For more information on doing business in New Mexico, visit www.nmsitesearch.com or www.goNM.biz biz n. Informal Business. biz Noun Informal business Noun 1. . |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion