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News Release
Mar. 1, 2006
Heating Bills to Drop in March, But PNM Customers
Urged to Stay Energy Efficient All Year Long
Albuquerque: While heating bills will begin to drop in March, PNM is urging its natural gas and electricity customers throughout New Mexico to begin to consider energy efficiency a year-round effort.
“We recommend that customers look at ways to use energy more efficiently every season of the year,” said PNM Vice President Terry Horn, who oversees PNM’s customer service operations.
Horn said that while natural gas prices have dropped significantly in recent months, they are still much higher than just a few years ago. PNM customers paid an average price of 75 cents per therm in 2005, compared to 62 cents in 2004, 52 cents in 2003 and 29 cents in 2002. The trend is similar for natural gas customers throughout the United States.
The company yesterday notified state regulators its March price of natural gas is 81 cents per therm, down from the February price of 88 cents per therm. However, the average residential bill will still be high for a month that generally brings more moderate temperatures. The average PNM residential bill in March is expected to be $115, based on forecasted consumption of 96 therms. This compares to the March 2005 expected bill of $75, when the price was 42 cents per therm.
By law, PNM purchases natural gas on behalf of its customers and passes the cost along without adding a profit.
PNM Energy Efficiency Program for
Natural Gas Customers Can Help in Summer, Too
Last month, after approval by the N.M. Public Regulation Commission, PNM launched an energy efficiency program for its natural gas customers that can provide year-round benefits to customers who choose to participate.
For example, having a contractor blow insulation into a home’s attic can reduce summer cooling bills as well as winter heating bills. The PNM program offers a rebate of 25 percent, for as much as $500, for insulation installed by a participating contractor. The program offers rebates on two retail products – ENERGY STAR® qualified programmable thermostats ($25 rebate) and water heater insulation blankets ($10 rebate) – along with several services installed by participating contractors.
More information on the PNM Energy Efficiency Program is available by calling (866) REBATES or visiting PNM.com/rebates.
Note to Reporters and Editors: This release is PNM’s last monthly natural gas price press release for the 2005-06 heating season. Monthly releases will resume in fall 2006. As always, expected natural gas costs are posted on PNM.com and listed at the bottom of each customer’s monthly bill.
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