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News Release
Dec. 30, 2005
January Natural Gas Price Close to December's Price,
But Higher Consumption Will Drive Customer Bills Higher
Albuquerque: The January price of natural gas for PNM customers will
be just slightly above the December price, but higher consumption will drive
up next month's bills for PNM's 470,000 natural gas customers.
Average residential natural gas consumption typically peaks in January at
131 therms, more than double the average monthly consumption of 58 therms.
At the January price of 98 cents per therm, PNM expects the average residential
natural gas bill to be $178. This is a 29 percent increase from the January
2005 average bill of $138, when the price was 70 cents per therm.
By law, PNM purchases natural gas on behalf of its customers and passes the
cost along without adding a profit.
"Our average bill forecast for this January assumes the same weather
as last January," said PNM Vice President Melvin Christopher. "If
temperatures stay as moderate as they have been in recent days, the average
bill increase may be less than 29 percent. But if temperatures are colder than
last January, bills could go even higher."
Demand on PNM Good Neighbor Fund will grow
Christopher said January is typically when requests for bill assistance begin
to rise.
"This is the time when many of our neighbors really begin to need our
help, and we want to be sure some assistance is there for them," he said.
He urged customers who can to consider a tax-deductible donation of any size
to the PNM Good Neighbor Fund, which takes customer and employee donations
and matches them dollar-for-dollar with PNM shareholder funds. This winter,
the fund will give one-time grants to qualifying families of as much as $180.
In most communities, the fund is administered by the Salvation Army.
Last winter, the PNM Good Neighbor Fund provided direct assistance to more
than 5,000 New Mexico families.
There are three ways customers can donate to the fund:
- Choose a regular monthly amount that is automatically added to each monthly
bill;
- Select the round-up option, which automatically rounds each monthly bill
up to the next whole dollar and gives the difference to the fund (for example,
a bill of $150.20 would be rounded up to $151, with 80 cents going to the
fund); or
- Make a one-time contribution by writing the amount on the detachable monthly
bill coupon and adding the amount to the total due.
For more information on how to donate to the PNM Good Neighbor Fund, customers
in the Albuquerque metropolitan area can call PNM at 246-5700; customers in
other areas of the state can call PNM toll free at (800) 687-7854.
PNM is a subsidiary of PNM Resources, an energy holding company based in Albuquerque,
N.M. PNM provides electric utility service to 419,000 customers and natural
gas service to 470,000 customers in New Mexico. The company also sells power
on the wholesale market in the West. PNM Resources stock is traded primarily
on the NYSE under the symbol PNM. For more information, see the company's Web
site at PNM.com.
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