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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