FERC Approves Transmission Rate Case Settlement for PNM

PNM Resources' 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 See full press release