ALBUQUERQUE, N.M., May 17, 2010 (BUSINESS WIRE) -- PNM Resources' (NYSE: PNM) utility in Texas, TNMP, has gained regulatory approval to increase transmission cost-of-service rates by $5.5 million annually.
The streamlined regulatory process to adjust transmission rates annually is designed to encourage utilities to invest in Texas' electric infrastructure. The transmission cost-of-service increase allows recovery for such things as items placed in service since the last general rate case and the related increase in depreciation expense and property taxes.
TNMP's new transmission rates were effective upon regulatory approval, which was obtained on May 14.
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 more than 2,710 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.
SOURCE: PNM Resources
Gina Jacobi, 505-241-2211
Director, Investor Relations
Analysts & Media
Frederick Bermudez, 505-241-4831
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