Pnm Resources Inc Unanimous Settlement Agreement For San Juan Credits Approved; Under Terms Of Agreement, $115M In Rate Credits Will Be Provided To Customers Over A One-Year Period
Portfolio Pulse from Benzinga Newsdesk
PNM Resources Inc has reached a unanimous settlement agreement for San Juan credits, according to an SEC filing. Under the terms of the agreement, $115 million in rate credits will be provided to customers over a one-year period.
September 21, 2023 | 8:28 pm
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PNM Resources Inc's unanimous settlement agreement for San Juan credits could potentially improve customer relations and public image, but may also impact the company's short-term revenues due to the $115 million in rate credits.
The settlement agreement indicates that PNM is taking steps to resolve regulatory issues, which could improve its public image and customer relations. However, the provision of $115 million in rate credits to customers could potentially impact the company's short-term revenues. The overall impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100