Prosperity Works

Filing Period

Oct 1, 2010 to Sep 30, 2011

Signed

May 11, 2012

Return Version

2010v3.4

Gross Receipts

$476,698

Mission

Major Activities

Activity 2

Family DevelopmentFamily Supports services worked to provide families with assistance to connect to resources for basic needs and assist with referrals and resources and then worked to increase the use of US financial and educational systems for low-income single immigrant mothers and their children. Prosperity Works concluded its work with Elev8 and Single Stop which targeted 3 middle schools. The program utilized an integrated approach to provision of health services, out of school educational opportunities and family supports. Prosperity Works began a new project called Opportunities Start Here to increase utilization of US financial and educational systems, while assisting low-income, single immigrant mothers and their children living in Central and Southeast New Mexico. Efforts focus on developing knowledge of financial products and services, providing immediate access to higher education and career enhancement, and developing sustainable systems within New Mexicos higher education and financial industries to support immigrant women and their children. There were 15 participants in the program; they worked on financial needs, setting up childcare and time management. 10 of the participants are in the process of enrolling in the IDA program.

Activity 3

Energy Through our Energy Initiative we advocate for:Energy efficiency programs paid for by New Mexicos utility companies that reduce the energy costs of limited-income families;Fair utility rates (gas, propane);Elimination of charges, such as late fees, that increase a familys utility bill.This year, Prosperity Works focused on preventing the PNM rate hikes. This resulted insaving $58M over next 3 years; sustainable policy change has been measurable. New Mexico Gas Company also sought to raise its rates this year. Their original application sought $34.5 million dollars in increase revenue, and it raised the customer charge by $3. It also did not restrict the Gas Company from immediately seeking another increase as soon as the present one was implemented. The final Uncontested Stipulation, conversely, reduces the increase from $34.5 to $21 million, reduces the customer charge increase and includes a moratorium on any additional rate increases until July 2013. Under the newly negotiated plan, customers will see on average a $3.19 monthly increase in their natural-gas bills next year rather than the 13% increase proposed by the original application.Based on these reductions and taking into consideration that the Gas Company has not had a rate increase in the last five years, Prosperity Works has signed the Uncontested Stipulation. If the PRC approves the Stipulation, New Mexico Gas Co. ratepayers will still pay less than most of its neighbors. Currently, the average Albuquerque customer pays $38 for a 40-therm bill. The proposed rates would make the bill $41, which is still 10% less than the regional average.

Filer

EIN

85-0466059