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Stock Market & Financial Investment News

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January 3, 2013
18:32 EDTPNMPNM Resources receives FERC approval for transmission rate case settlement
PNM Resources' New Mexico utility, PNM, yesterday received approval from the Federal Energy Regulatory Commission for an unopposed transmission rate case settlement that was filed July 3, 2012. The $2.9M 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 a formula-based transmission rate filing. The company made that formula-based transmission rate filing on Monday, Dec. 31, 2012.
News For PNM From The Last 14 Days
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May 15, 2015
05:05 EDTPNMPNM Resources signs executed letter agreement with Westmoreland Coal
PNM Resources' New Mexico utility, Public Service Co. of New Mexico, signed an executed letter agreement with Westmoreland Coal for the new coal supply contract for San Juan Generating Station, or SJGS, previously announced on May 1. The combined new coal supply and SJGS ownership restructuring agreements will save customers approximately $300M in fuel costs over the next six years. The company filed the agreement and other documents in response to a New Mexico Public Regulation Commission, or NMPRC, order that requested comments on how the Commission should proceed in light of these agreements. PNM feels strongly the NMPRC has reason to approve the company’s request to add 132 megawatts of capacity in SJGS Unit 4, conditional upon final execution of the ownership and coal contracts by August 31. The filing included a resolution from the owners of the SJGS in support of PNM’s plans and a letter from Keith Alessi, Westmoreland CEO, urging the NMPRC to make a timely decision that enables Westmoreland to move forward with the transition of the mine. In the coming weeks, the NMPRC’s General Counsel will present a draft order for consideration by commissioners for a final vote on PNM’s SJGS Plan settlement agreement.
May 14, 2015
10:00 EDTPNMOn The Fly: Analyst Downgrade Summary
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09:28 EDTPNMPNM Resources downgraded to Sector Weight from Overweight at KeyBanc

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