Financial Data and Key Metrics Changes - Ongoing earnings for Q1 2025 were 0.19pershare,aligningwithexpectationsandreflectingthemidyearimplementationofnewratesatPNM[4][23]−Thecompanyaffirmedits2025guidancerangeof2.74 to 2.84pershare,maintainingalong−termEPSgrowthtargetof7546 million in capital improvements [5][10] Market Data and Key Metrics Changes - Interconnection requests increased by 6% compared to Q1 of the previous year, particularly in the Gulf Coast area [10] - The New Mexico legislative session resulted in key bills aimed at expediting infrastructure build-out for large customers, enhancing competitiveness [6][7] Company Strategy and Development Direction - The company is focused on supporting growth in Texas with a reliable and resilient grid, with capital investments projected to grow from 600millionthisyeartoover1 billion starting in 2028 [12] - The regulatory agenda includes upcoming rate reviews and resource applications, with a focus on balancing system needs and customer rate impacts [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing the capital plan and achieving growth targets, emphasizing the importance of size and scale in financing large capital expenditures [36] - The company is optimistic about the impact of recent legislation on its operations and financial performance [6][64] Other Important Information - The company has not made changes to its five-year capital investment plan, which includes significant investments in transmission development [19][20] - The upcoming regulatory agenda includes decisions on rate reviews and resource applications, with a focus on improving service and meeting customer demands [20][21] Q&A Session Summary Question: Impact of House Bill 5,247 on TNMP - Management confirmed that House Bill 5,247 would be beneficial to TNMP, allowing for the grouping of costs and reducing regulatory lag [33] Question: Update on TNMP's capital structure and rate design - Management indicated that the upcoming base rate case would primarily focus on rate design, with the current capital structure at 45% equity [44] Question: Confidence in executing the 750millionCapExforPermianBasin−ManagementexpressedconfidenceindeliveringthecapitalandnotedthatCCNswouldbefiledearlynextyear[47]Question:ProgressonNewMexicoRFPprocess−ManagementstatedthattheRFPprocessisontrack,withanindependentevaluatorinvolvedtoensureresourcejustification[54]Question:Impactoftariffsoncapitalplans−Managementnotedthattariffsareexpectedtohaveabouta24 billion [57]
