PNM provided more than $1M in relief to low- and moderate-income customers this summer

PNM announced Wednesday that shareholder funds helped thousands who struggled with this summer’s heatwave aftermath.

The PNM Summer Heat Bill Help Fund, an initiative to support low and moderate-income customers facing unprecedented electric bills due to this summer’s heatwave, made a significant impact. Through this program, PNM provided much-needed assistance to over 4,100 customers, totaling more than $600,000 in aid towards a record-setting energy usage summer.

“We are deeply committed to the needs of our customers,” said Don Tarry, PNM President and Chief Executive Officer. “The PNM Summer Heat Bill Help Fund embodies our dedication to helping those who needed it most this summer. We understand the challenges faced when the weather results in unexpected bills and are happy this Fund was able to make a meaningful difference in the lives of thousands.”

In addition to the PNM Summer Heat Bill Help Fund, PNM worked to provide further financial assistance to its customers. Through the PNM Good Neighbor Fund, the company funded an additional $450,000 in financial support for eligible low-income customers. For those who didn’t qualify for these programs, PNM introduced two additional options to alleviate the burden of high electric bills.

• The company enrolled nearly 6,000 customers in the PNM Budget Billing program. This program evenly spreads out a customer’s yearly usage, ensuring a consistent and manageable monthly payment, eliminating the guesswork associated with fluctuating bills.
• PNM also offered more flexible and long-term payment plan options, allowing customers more time to pay their electric bills. As of September 30, nearly 7,700 customers are on a payment plan, providing them with greater financial breathing room when paying their PNM bill.