Business & Finance
Business and Finance
Business and Finance
Thu, January 20, 2011 PNM Granted Additional Time to Gain Support for Rate Case Agreement
ALBUQUERQUE, N.M.--([ BUSINESS WIRE ])--The rate case schedule for PNM Resources' (NYSE: PNM) New Mexico utility, PNM, has been extended an additional two weeks after regulators agreed to give the utility more time to gain support for a stipulation with other parties.
PNM has an agreement regarding its pending electric rate increase request with staff of the N.M. Public Regulation Commission and the N.M. Attorney Generala™s Office, which serves as the consumer advocate for residential and small business customers.
Today, Commissioners granted the motion and set Feb. 3 as the new 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. The joint motion is available on the PNM Resources Web site at [ http://www.pnmresources.com/investors/regulatory.cfm ]. The Commissiona™s order will be posted when it is available.
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 about 2,700 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 ].
