PNM Resources Says Unit Texas-New Mexico Power Company Received Approval For Distribution Investment Recovery: Unit To Recover Over $205M In Net Distribution Infrastructure Investments
Portfolio Pulse from Benzinga Newsdesk
PNM Resources announced that its unit, Texas-New Mexico Power Company (TNMP), received approval for a $15.7 million annual increase in distribution investment recovery, effective July 28, 2024. This approval allows TNMP to recover over $205 million in net distribution infrastructure investments. Recent legislation permits semi-annual filings, reducing regulatory lag and supporting TNMP's investment plan for reliable growth.
June 14, 2024 | 10:40 am
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PNM Resources' unit, Texas-New Mexico Power Company, received approval for a $15.7 million annual increase in distribution investment recovery, effective July 28, 2024. This supports TNMP's $205 million infrastructure investment plan.
The approval for the $15.7 million annual increase in distribution investment recovery is a positive development for PNM Resources. It supports the company's $205 million infrastructure investment plan, which is likely to enhance growth and reliability in TNMP's service territory. The recent legislative changes allowing semi-annual filings further reduce regulatory lag, providing a more efficient recovery process.
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