FERC Approves Transmission Rate Case Settlement for PNM
PNM Resources' (NYSE: PNM) New Mexico utility, PNM, yesterday received
approval from the Federal Energy Regulatory Commission (FERC) for an
unopposed transmission rate case settlement that was filed July 3, 2012.
The $2.9 million rate increase does not impact retail rates for New
Mexico residential or business customers.
PNM originally filed for a transmission rate increase in October 2010.
As permitted by FERC rules, in June 2011 PNM began billing at the higher
rates associated with the original filing subject to refund.
The agreement is a "black-box settlement," meaning the parties agreed to
a specific revenue number but no specific return on equity. The
settlement parties also agreed not to oppose the concept of