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Stock Market & Financial Investment News

News Breaks
February 15, 2013
15:07 EDTPNMPNM Resources says deal reached for potential new path forward for SJGS
PNM Resources’ New Mexico utility, PNM, the N.M. Environment Department and the U.S. Environmental Protection Agency agreed to pursue a revised plan that could provide a new path forward for San Juan Generating Station, or SJGS, to comply with federal visibility rules, the company said. The terms agreed to would result in the retirement of SJGS Units 2 and 3 by the end of 2017, and the installation of selective non-catalytic reduction technology on the remaining two units in early 2016. The terms of the plan primarily focus on how SJGS would meet the regional haze rule, but also include a natural gas plant to be built in the Four Corners region to partially replace the capacity from the retired coal units. Detailed replacement power strategies would be finalized separately from the haze agreement. The company believes adequate replacement power alternatives will be available to meet PNM’s remaining generation needs and ensure reliability. The terms of the non-binding agreement would require several additional actions before becoming final, PNM said.
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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