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Report: New Mexico families impacted by rising energy prices

As energy prices continue to rise, many New Mexico families are feeling increased pressure to make ends meet. 

Lower- and middle-income families represent 55 percent of New Mexico households and take home an average $1,900 per month – making their budgets especially tight. And when electric prices increase, there will be less money for housing, food, health care and other necessities. They will have to figure out where they can cut costs somewhere else.

See how this affects families like yours:

Despite threats, electricity remains good value

Keep Electricity Affordable periodically highlights unwise potential government mandates that could raise the price of electricity – and how rate hikes could hurt families, schools, farms and other small businesses. 

But it’s worth remembering that – as our name makes clear – electricity remains relatively affordable considering all it does to enhance our lives. (So let’s keep working together to make sure it stays that way!)

Nobody likes an increase in the electricity bill but this graphic provides some perspective:

New mandates have real consequences on electricity prices

You may be familiar with the drill: First, government regulators announce new mandates on power production. Then proponents and critics of the new rules debate the potential impact on how much consumers pay for electricity – often coming to very different conclusions.

It may be hard to decide who to believe.

But there’s much less room for debate when we can see the impacts on electricity bills that consumers are receiving today.

New report: New Mexico families stretching budgets as electricity costs rise

The U.S. Energy Information Administration reports that residential electricity costs in New Mexico have been on the rise over the last several years. Those increasing costs disproportionately impact the most vulnerable New Mexicans, as electricity costs crowd out other basic needs like food and medicine in the family budget.