Business & Finance
Business and Finance
Business and Finance
Tue, January 4, 2011
Mon, January 3, 2011 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.
"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"
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 Generala™s Office and staff of the N.M. Public Regulation Commission. aThe 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,a 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. Todaya™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 companya™s Web site at [ www.PNMResources.com ].
