PNM Granted Additional Time to Gain Support for Rate Case Agreement
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--
The rate case schedule for PNM Resources' (NYSE: PNM) New Mexico
utility, PNM, has been extended an additional two weeks after regulators
agreed to give the utility more time to gain support for a stipulation
with other parties.
PNM has an agreement regarding its pending electric rate increase
request with staff of the N.M. Public Regulation Commission and the N.M.
Attorney General's Office, which serves as the consumer advocate for
residential and small business customers.
Today, Commissioners granted the motion and set Feb. 3 as the new
deadline for filing a stipulation. If a stipulation does not
materialize, the case will proceed on a litigation path according to the
new extended schedule.
The terms of a possible stipulation will be released when filed with the
Commission. The joint motion is available on the PNM Resources Web site
at http://www.pnmresources.com/investors/regulatory.cfm.
The Commission's order will be posted when it is available.
Background:
PNM Resources (NYSE: PNM) is an energy holding company based in
Albuquerque, N.M., with 2009 consolidated operating revenues from
continuing operations of $1.6 billion. Through its utility and energy
subsidiaries, PNM Resources has about 2,700 megawatts of generation
resources and serves electricity to more than 875,300 homes and
businesses in New Mexico and Texas. The company also has a 50-percent
ownership of Optim Energy, which owns nearly 1,200 megawatts of
generation resources. For more information, visit the company's Web site
at www.PNMResources.com.
PNM Resources
Analysts
Gina Jacobi, 505-241-2211
Director,
Investor Relations
Analysts & Financial Media
Frederick
Bermudez, 505-241-4831
Source: PNM Resources
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