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PNM sets aside $2 million for customers struggling to pay their electric bill

COVID Donation
Credit: United Nations COVID-19 Response: Image created by Kyle Mueller

PNM today announced that it will set aside $2 million for new COVID Customer Relief Programs to help struggling residential and small business customers pay their past due electric bills. The funds came from shareholders. These programs are designed to deliver assistance for residential and small business customers who are behind on their bill and to avoid an interruption of electric service down the road.

PNM saw declines in overall commercial customer electricity use as a result of the pandemic and statewide restrictions limiting business operations. However, hotter summer temperatures increased electricity use for all customers. As a result, PNM set aside a portion of this revenue to help struggling customers affected by the financial impacts of COVID-19.

The new PNM Customer Relief Programs are designed to deliver help for both income-qualified residential customers and small business customers in the restaurants, retail, hospitality, leisure and entertainment industry.

To receive financial assistance under the new PNM COVID Customer Relief Program:

  • Residential customers eligible based on household income.
  • $50-$200 per eligible residential customer, $150-$200 per eligible small business. Amount of financial assistance provided will vary depending on how much is past due.
  • Qualified customers must pay at least 25% of the past-due balance
  • Must apply no later than December 31, or until funds last, by calling PNM at 855-364-2950 Monday through Friday from 7:30 AM – 6 PM or at PNM.com.
  • Assistance is available first come, first serve. Full list of eligibility and requirements is available at PNM.com/help

This year alone, PNM has provided more than $320,000 through the PNM Good Neighbor Fund to low-income customers; $730,000 from PNM Resources Foundation Vision grants; $117,000 in employee matching and volunteer grants; and $250,000 in PNM sponsorships that went toward education, economic vitality, the environment, social justice initiatives and pandemic support.