RegulatoryJun 2, 2026, 06:07 AM
TXNM Subsidiaries File Rate Settlement & Clean Energy Plan
AI Summary
TXNM Energy's subsidiary, Texas-New Mexico Power Company (TNMP), filed a comprehensive rate settlement with the Public Utility Commission of Texas, recovering a $2.8 billion rate base and maintaining a 9.65% return on equity. Separately, its subsidiary Public Service Company of New Mexico (PNM) submitted an application to the New Mexico Public Regulatory Commission for approval of resources to advance carbon-free generation, including 800 MW wind, 240 MW solar, 610 MW battery storage, and 40 MW natural gas, as part of its $4.9 billion 5-year investment plan. This plan aims to eliminate coal as a generation source by 2031 and meet a projected 40% increase in customer demand by 2032.
Key Highlights
- TNMP filed a comprehensive rate settlement with the Public Utility Commission of Texas.
- TNMP recovers a filed rate base of $2.8 billion as of June 30, 2025.
- TNMP continues an authorized return on equity of 9.65% and 45% equity ratio.
- TNMP will implement $20.5 million in rate rider recovery for Hurricane Beryl costs over five years.
- PNM filed an application for resources to advance carbon-free generation in New Mexico.
- PNM's plan includes 800 MW wind, 240 MW solar, 610 MW battery storage, and 40 MW natural gas.
- PNM aims for complete elimination of coal as a generation source by 2031.
- PNM forecasts a 40% increase in customer electricity demand by 2032.
- The capital investments are part of PNM's $4.9 billion 5-year investment plan.
Price Impact
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