07:35 AM EDT, 04/09/2025 (MT Newswires) -- TXNM Energy ( TXNM ) said Wednesday that the Hearing Examiners of the New Mexico Public Regulation Commission has recommended approval of an unopposed stipulation filed by its unit, PNM, and other parties in the 2025 rate request application.

If approved, customer rates will increase 50% on July 1 and the remaining increase on April 1 of next year, the company said.

The company said the stipulation, filed in November and supported by all parties, includes a $105 million increase in PNM's revenue requirements based on a 9.45% return on equity and a 51% equity capitalization on $3 billion of rate base.