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Stock Market & Financial Investment News

News Breaks
December 31, 2012
19:09 EDTPNMPNM Resources files for transmission formula rate increase
PNM Resources' New Mexico utility, PNM, filed a request with the Federal Energy Regulatory Commission, or FERC, for a $3.2M transmission rate increase and permission to adjust transmission rates annually based on an approved formula. The request will not impact retail rates for New Mexico customers, only wholesale customers who use PNM transmission lines to deliver power. PNM has asked for FERC approval by March 2013. The filing proposes a return on equity of 10.81%, based on a rate base of $317.5M and a revenue requirement of $82.1M. Once approved, an annual adjustment will be made each June to update for the prior year's costs reflected in the latest FERC Form 1 filing.
News For PNM From The Last 14 Days
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September 29, 2014
07:31 EDTPNMEPA approves revised state plan for PNM's San Juan generating station
PNM Resources' New Mexico utility, PNM, praised Friday’s decision by the U.S. Environmental Protection Agency approving a revised state plan to comply with federal environmental rules that calls for closing two of four units at the San Juan Generating Station, a coal-fired power plant located in the Four Corners area of northwestern New Mexico. Implementation of the revised plan would result in a significant reduction of water use and emissions at the plant and a 30% reduction of coal in PNM’s portfolio. The revised plan was proposed 18 months ago by PNM, the N.M. Environment Department and EPA representatives, with encouragement from N.M. Gov. Susana Martinez and the Navajo Nation President Ben Shelly, as a cost-effective approach for complying with federal haze regulations. Importantly, the revised plan will also put New Mexico well down the path toward compliance with new carbon regulations proposed by the EPA in June.

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