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TNMP Receives Approval for Distribution Investment Recovery

PR Newswire
·1-min read

ALBUQUERQUE, N.M., June 14, 2024 /PRNewswire/ -- The Public Utility Commission of Texas (PUCT) approved the application from Texas-New Mexico Power Company (TNMP), the Texas utility subsidiary of PNM Resources, Inc. (NYSE: PNM), to recover over $205 million in net distribution infrastructure investments to reliably serve customers' power needs since its last filing.

PNM Resources (PRNewsFoto/PNM Resources, Inc.) (PRNewsfoto/PNM Resources, Inc.)
PNM Resources (PRNewsFoto/PNM Resources, Inc.) (PRNewsfoto/PNM Resources, Inc.)

TNMP filed the Distribution Cost Recovery Factor (DCRF) application in April 2024 and received approval for the requested $15.7 million increase (on an annual basis) with rates effective July 28, 2024.

Legislation passed during the 2023 Texas legislative session permits the historically annual filings on a semi-annual basis, further reducing regulatory lag associated with distribution capital investments. Recovery of investments under these filings, combined with recovery of transmission investments under semi-annual Transmission Cost of Service Filings, continues to support the robust investment plan to support reliable growth across the TNMP service territory.

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Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2023 consolidated operating revenues of $1.9 billion. Through its regulated utilities, TNMP and PNM, PNM Resources provides electricity to more than 800,000 homes and businesses in Texas and New Mexico. PNM serves its customers with a diverse mix of generation and purchased power resources totaling 3.3 gigawatts of installed capacity, with a goal to achieve 100% emissions-free energy by 2040. For more information, visit the company's website at www.PNMResources.com.

Contacts:

Analysts                                           

Media

Lisa Goodman                               

Corporate Communications

(505) 241-2160                               

(505) 241-2783

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/tnmp-receives-approval-for-distribution-investment-recovery-302172770.html

SOURCE PNM Resources, Inc.