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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 Resourcesí 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 PNMís 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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October 20, 2014
07:26 EDTPNMPNM Resources upgraded to Buy from Hold at Argus
Argus upgraded PNM Resources to Buy with a $32 price target. The upgrade is based on improving earnings visibility, an expanding infrastructure improvement program, and focus on costs.

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