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Stock Market & Financial Investment News

News Breaks
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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July 2, 2015
05:17 EDTPNMPNM Resources files key final SJGS agreements with NMPRC
PNM filed with the New Mexico Public Regulation Commission, or NMPRC, key documents needed to implement the company’s plan for San Juan Generating Station, or SJGS. The filing includes the ownership restructuring agreement, coal supply agreement, and the purchase and sale agreement for San Juan Mine between BHP Billiton and Westmoreland Coal Company. Combined, the agreements will reduce the cost to customers by more than $300M over six years, reducing monthly bills for customers by about 5% beginning in 2016. The coal supply agreement for SJGS and the mine purchase and sale agreement are final, fully executed documents. The final ownership restructuring agreement has been executed by PNM, PNMR Development, the City of Farmington and Tucson Electric Power. The six remaining owners are obtaining approval from their respective governing bodies and plan to provide their executed signature pages by August 1, as ordered by the NMPRC.
June 26, 2015
07:30 EDTPNMPNM Resources to affirm FY15 ongoing EPS view $1.50-$1.62, consensus $1.56
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June 24, 2015
15:45 EDTPNMNMPRC grants PNM extension to file final San Juan documents
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June 22, 2015
19:56 EDTPNMUtilities sector dips after EPA warns of 'significant risks' from climate change
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11:21 EDTPNMPNM Resources management to meet with Jefferies
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