Profile: PNM Resources Inc (PNM.N)
23.76USD
1 Aug 2013
$0.28 (+1.19%)
$23.48
$23.66
$23.90
$23.61
190,000
147,676
$24.13
$19.76
PNM Resources, Inc. (PNMR), incorporated in 2000, is an investor-owned holding company of energy and energy-related businesses. As of December 31, 2011, PNMR’s primary subsidiaries are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). PNM is a public utility with regulated operations engaged in the generation, transmission, and distribution of electricity. TNMP is a wholly owned subsidiary of TNP Enterprises, Inc. and Subsidiaries (TNP), which is a holding company that is wholly owned by PNMR. TNMP provides regulated transmission and distribution services in Texas. PNMR owns 50% of Optim Energy, which is focused on unregulated electric operations, principally within the areas of Texas covered by Electric Reliability Council of Texas (ERCOT). In November 1, 2011, PNMR sold First Choice Power. In April 2013, PNMR, through its PNM unit, acquired the entire share capital of Delta Person LP.
PNM Electric
PNM Electric is an electric utility that provides electric generation, transmission, and distribution service to its rate-regulated customers. In New Mexico, the utility's retail electric service territory covers an area of north central New Mexico, including the cities of Albuquerque, Rio Rancho, and Santa Fe, and certain other areas of southern New Mexico. PNM Electric also provides electricity to firm-requirements wholesale customers in New Mexico and Arizona. Service to retail electric customers is subject to the jurisdiction of the New Mexico Public Regulation Commission (NMPRC). Service to wholesale customers is regulated by Federal Energy Regulatory Commission (FERC). Other services provided by PNM Electric include transmission services to third parties, as well as the generation and sale of electricity into the wholesale market, which services are regulated by FERC. The utility owns or leases transmission lines, interconnected with other utilities in New Mexico, Texas, Arizona, Colorado, and Utah. PNM holds long-term, non-exclusive franchise agreements for its electric retail operations, with varying expiration dates. These franchise agreements allow the utility to access public rights-of-way for placement of its electric facilities. PNM Electric owns or leases 3,189 circuit miles of electric transmission lines that interconnect with other utilities in New Mexico, Arizona, Colorado, Texas, and Utah. PNM Electric also generates and sells electricity into the wholesale market.
TNMP Electric
TNMP Electric is a regulated utility operating in Texas. TNMP Electric provides transmission and distribution services in Texas under the provisions of Texas Electric Choice Act (TECA) and the Texas Public Utility Regulatory Act. TNMP Electric serves a market of small to medium sized communities, which has populations of less than 50,000. TNMP is the provider of transmission and distribution services in most areas it serves. TNMP Electric's service territory consists of three non-contiguous areas. One portion of this territory extends from Lewisville, which is approximately 10 miles north of the Dallas-Fort Worth International Airport, eastward to municipalities near the Red River, and to communities north, west and south of Fort Worth. The second portion of its service territory includes the area along the Texas Gulf Coast between Houston and Galveston, and the third portion includes areas of far west Texas between Midland and El Paso. TNMP Electric provides transmission and distribution services at regulated rates to various REPs that, in turn, provide retail electric service to consumers within TNMP Electric's service area. As of December 31, 2011, 83 active REPs receive transmission and distribution services from TNMP Electric. TNMP holds long-term, non-exclusive franchise agreements for its electric transmission and distribution services. These agreements have varying expiration dates and some have expired.
PNM Gas and Optim Energy
PNM Gas distributed natural gas to the communities in New Mexico under. PNM Gas had a customer base that included both sales-service customers and transportation-service customers. Optim Energy's business consists of development, operation, and ownership of diverse generation assets, complemented by wholesale marketing to optimize those assets. PNMR and ECJV each had a 50% ownership interest in Optim Energy, a limited liability company. Optim Energy had interests in three electric generating resources located within the ERCOT area.
Corporate and Other
The Corporate and Other segment includes PNMR holding company activities, primarily related to corporate level debt and PNMR Services Company. PNMR Services Company provides corporate services through shared services agreements to PNMR and all of PNMR's business units, including PNM and TNMP, and through transition services agreements with First Choice and Optim Energy. These services are charged and billed on a monthly basis to the business units.
Company Address
PNM Resources Inc
Alavardo Square,415 Silver 415
ALBUQUERQUE NM 87158
P: +1505.2412700
F: +1505.2414311
Company Web Links
| Name | Compensation |
|---|---|
Patricia Collawn |
4,128,490 |
Charles Eldred |
1,372,960 |
Ronald Talbot |
1,082,460 |
Patrick Apodaca |
808,706 |
R. Darnell |
621,753 |

