Published: July 08, 2011
PNM Resources' Texas Utility Receives Approval for Smart Meters
ALBUQUERQUE, N.M. - (BUSINESS WIRE) - PNM Resources' (NYSE: PNM) transmission and distribution utility in
Texas, TNMP, today received regulatory approval to recover the costs of
installing an Advanced Metering System throughout its service area.
The unanimous approval by the Public Utility Commission of Texas is
based on an agreement reached with all parties that will allow for the
recovery of $113.4 million, including $66.3 million of capital, through
a surcharge during the next 12 years. TNMP will install up to 240,000
meters beginning this year through 2016.
Background:
PNM Resources (NYSE: PNM) is an energy holding company based in
Albuquerque, N.M., with 2010 consolidated operating revenues of $1.7
billion. Through its utility and energy subsidiaries, PNM Resources has
approximately 2,530 megawatts of generation capacity, 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 in Texas. 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 & Media
Frederick
Bermudez, 505-241-4831
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