TNMP Receives Approval for Distribution Investment Recovery

Group 1 - The Public Utility Commission of Texas approved Texas-New Mexico Power Company's application to recover over $205 million in net distribution infrastructure investments [1] - TNMP's Distribution Cost Recovery Factor application was filed in April 2024, resulting in a $15.7 million annual rate increase effective July 28, 2024 [5] - Legislation from the 2023 Texas session allows for semiannual filings, reducing regulatory lag and supporting robust investment plans for reliable growth in TNMP's service area [6] Group 2 - PNM Resources, Inc. reported consolidated operating revenues of $1.9 billion in 2023 and serves over 800,000 customers in Texas and New Mexico [3] - PNM Resources aims for 100% emissions-free energy by 2040, with a total installed capacity of 3.3 gigawatts [3]