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PNM Rate Case Schedule Extended As Settlement Discussions Continue

ALBUQUERQUE, N.M.--(BUSINESS WIRE)-- The rate case schedule for PNM Resources' (NYSE: PNM) New Mexico utility, PNM, was extended today by four weeks to allow the parties additional time to continue to work on a settlement.

On Dec. 20, PNM filed a motion with state regulators to extend the schedule after it had reached an agreement with the N.M. Attorney General's Office and staff of the N.M. Public Regulation Commission. "The Settling Parties need additional time to finalize and document their agreement and to attempt to gain concurrence of the other parties to the terms of the settlement," the motion stated.

Today, a Commission hearing examiner granted the motion and set Jan. 20, 2011, as the 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. Today's ruling is available on the PNM Resources Web site at http://www.pnmresources.com/investors/regulatory.cfm.

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 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.

PNM Resources
Analysts
Gina Jacobi
Director, Investor Relations
505-241-2211
Analysts & Financial Media
Frederick Bermudez
505-241-4831

Source: PNM Resources

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