PNM Settles FERC Transmission Rate Case

PNM Resources'

New Mexico utility, PNM, today filed an agreement with the Federal Energy Regulatory Commission that would settle its transmission rate case submitted in October 2010. The unopposed agreement requires FERC approval and does not impact retail rates for New Mexico residential or business customers. As permitted by FERC rules, in June 2011 PNM began billing at the higher rates associated with the transmission case, subject to refund. Revenues recorded by PNM since 2011 have been aligned with the agreed-to annual increase of $3 million.