PNM Resources Unit Obtains Approval to Recover $205 Million Infrastructure Investments

MT Newswires Live

Jun 14, 2024

PNM Resources (PNM) said Friday that its Texas-New Mexico Power unit received approval from the Public Utility Commission of Texas to recover more than $205 million in net distribution infrastructure investments.

Texas-New Mexico Power filed the distribution cost recovery factor application in April and obtained approval for a $15.7 million annual increase, effective July 28, according to PNM Resources.

Shares of PNM Resources were up 0.1% in recent premarket activity.

Price: 38.04, Change: +0.05, Percent Change: +0.13

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