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Stock Market & Financial Investment News

News Breaks
January 18, 2013
17:08 EDTPNMPNM New Mexico resumes discussions with EPA on San Juan station alternative
PNM Resources', New Mexico utility, PNM, announced renewed support for discussions that have resumed with the N.M. Environment Department and the U.S. Environmental Protection Agency to consider an alternative for San Juan Generating Station to comply with federal visibility rules. Following the Nov. 29 expiration of the EPA's 45-day administrative stay extension, PNM announced it would work to comply with the federal rule that requires installation of selective catalytic reduction technology on all four units of SJGS. There is no timeline established for the discussions to reach a definitive agreement, though there is a September 2016 deadline for installation of selective catalytic reduction technology units.
News For PNM From The Last 14 Days
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May 27, 2015
10:01 EDTPNMOn The Fly: Analyst Upgrade Summary
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06:58 EDTPNMPNM Resources upgraded to Buy after New Mexico visit at Jefferies
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05:34 EDTPNMPNM Resources upgraded to Buy from Hold at Jefferies
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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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