Texas based Excel Energy has already recently increased the rates that Texas electricity customers are paying for their services and now they are planning to increase the rates that New Mexico customers will be paying as well.
The recent increase in Texas will raise the rates of customers by 3.3 percent in 2011 and by another 1.8 percent by 2012. Excel Energy plans to use some of the money gained from the rate increases to make the equipment that generates the electricity work more efficiently and will be conducting projects that will do so up until 2015. Customers of the company that are located in both Texas and New Mexico should compare energy rates by calling Electric Rates in order to determine if another company offers a lower rate than Excel.
- The rate increase that Excel Energy is seeking for its New Mexico customers is 6.9 percent and that increase will help the company raise $19.9 million in revenue.
- Electricity demand in New Mexico has increased by 10 percent in the last three years or so.
- Currently the rates that Excel is charging to its customers are based on costs that were established back in 2008.
- The total of 5 percent in rate increases that Texas customers experienced were approved in July of 2009.
Many energy consumers are experiencing rate increases and often the revenues from the increases are used to aid in repairing aging infrastructures.
Although the increases may be troublesome when it comes to increasing energy costs they are often necessary as generation plants need to be updated with the changing times and advancements in technology. As a customer of one of these companies increasing rates though you may still want to seek out a lower rate which is possible for energy consumers in the state of Texas.
Contact Electric Rates and a consultant will tell you how easy it is to make a rate comparison between Excel and other local energy companies.