Investments

TNMP Reaches Settlement for 98% Requested Restoration of Distribution Investments

PNM Sources Q2 2021 Earnings Outcomes to be Introduced July 30

ALBUQUERQUE, N.M., July 2, 2021 /PRNewswire/ — Texas-New Mexico Energy Firm (TNMP), the Texas utility subsidiary of PNM Sources, Inc. (NYSE: PNM), filed a settlement in its software to amend its Distribution Value Restoration Issue to get well almost $105 million in web distribution infrastructure investments made throughout 2020 to reliably serve prospects’ energy wants.

PNM Sources (PRNewsFoto/PNM Sources, Inc.) (PRNewsfoto/PNM Sources, Inc.)

The unanimous settlement with events requires elevated annual revenues of $13.5 million and displays 98% of the corporate’s filed income requirement. The settlement is topic to approval from the Public Utility Fee of Texas and is predicted to be applied September 1, 2021.

PNM Sources to Announce Q2 2021 Earnings Outcomes

PNM Sources will announce 2021 second quarter monetary outcomes previous to the market opening on Friday, July 30, 2021. The earnings information launch shall be issued at 6:30 a.m. Jap.

In mild of the beforehand introduced merger transaction with AVANGRID, the corporate won’t host a convention name. Extra data on the corporate’s monetary outcomes and the pending merger transaction may be discovered on the corporate’s web site at www.PNMResources.com.

Background:
PNM Sources (NYSE: PNM) is an power holding firm based mostly in Albuquerque, N.M., with 2020 consolidated working revenues of $1.5 billion. Via its regulated utilities, PNM and TNMP, PNM Sources offers electrical energy to roughly 800,000 properties and companies in New Mexico and Texas. PNM serves its prospects with a various mixture of technology and bought energy sources totaling 3.0 gigawatts of capability, with a aim to realize 100% emissions-free power by 2040. For extra data, go to the corporate’s web site at www.PNMResources.com.

CONTACTS:

Analysts

Media

Lisa Goodman

Ray Sandoval

(505) 241-2160

(505) 241-2782

Protected Harbor Assertion beneath the Personal Securities Litigation Reform Act of 1995
Statements made on this information launch for PNM Sources, Inc. (“PNMR”), Public Service Firm of New Mexico (“PNM”), or Texas-New Mexico Energy Firm (“TNMP”) (collectively, the “Firm”) that relate to future occasions or expectations, projections, estimates, intentions, targets, targets, and methods are made pursuant to the Personal Securities Litigation Reform Act of 1995. Readers are cautioned that each one forward-looking statements are based mostly upon present expectations and estimates. PNMR, PNM, and TNMP assume no obligation to replace this data. As a result of precise outcomes might differ materially from these expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP warning readers to not place undue reliance on these statements. PNMR’s, PNM’s, and TNMP’s enterprise, monetary situation, money circulate, and working outcomes are influenced by many elements, which are sometimes past their management, that may trigger precise outcomes to vary from these expressed or implied by the forward-looking statements. Moreover, there are dangers and uncertainties in reference to the proposed acquisition of us by AVANGRID which can adversely have an effect on our enterprise, future alternatives, staff and customary inventory, together with with out limitation, (i) the anticipated timing and probability of completion of the pending Merger, together with the timing, receipt and phrases and situations of any required governmental and regulatory approvals of the pending Merger that would scale back anticipated advantages or trigger the events to desert the transaction, (ii) the failure by AVANGRID to acquire the required financing association set forth in dedication letter obtained in reference to the Merger, (iii) the incidence of any occasion, change or different circumstances that would give rise to the termination of the Merger Settlement, (iv) the chance that the events might not be capable to fulfill the situations to the proposed Merger in a well timed method or in any respect, , and (v) the chance that the proposed transaction may have an antagonistic impact on the power of PNMR to retain and rent key personnel and preserve relationships with its prospects and suppliers, and on its working outcomes and companies typically. For a dialogue of danger elements and different vital elements affecting forward-looking statements, please see the Firm’s Type 10-Okay, Type 10-Q filings and the data included within the Firm’s Varieties 8-Okay with the Securities and Alternate Fee, which elements are particularly included by reference herein.

Cision

Cision

View authentic content material to obtain multimedia:https://www.prnewswire.com/news-releases/tnmp-reaches-settlement-for-98-requested-recovery-of-distribution-investments-301324818.html

SOURCE PNM Sources, Inc.

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