TNMP files Unopposed Settlement in System Resiliency Plan

ALBUQUERQUE, N.M., Dec. 12, 2024 /PRNewswire/ -- TNMP, a wholly-owned subsidiary of TXNM Energy (NYSE:TXNM), filed an unopposed settlement yesterday in its application with the Public Utility Commission of Texas (PUCT) for approval of a System Resiliency Plan.

TNMP's filed System Resiliency Plan was developed using a comprehensive and data-driven approach which evaluated various types of resiliency events posing material risk to the safe and reliable operation of TNMP's distribution system.

The settlement includes $565.8 million of capital investments over 2025 through 2027, reflecting 94 percent of TNMP's proposed plan investments. The settlement also encompasses $128.2 million of operations and maintenance expenses associated with several programs, including vegetation management and wildfire mitigation. These program costs may be deferred to the balance sheet and included in future Distribution Cost Recovery Factor filings.  

The settlement is subject to PUCT approval. The filed settlement and application can be found at https://www.txnmenergy.com/investors/rates-and-filings/tnmp-puct-filings.aspx.

Background:

TXNM Energy (NYSE:TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company's website at www.TXNMEnergy.com.

Contacts:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements made in this news release for TXNM Energy, Inc. ("TXNM"), Public Service Company of New Mexico ("PNM"), or Texas-New Mexico Power Company ("TNMP") (collectively, the "Company") that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies, including the unaudited financial results and earnings guidance, are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates and apply only as of the date of this report. TXNM, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, TXNM, PNM, and TNMP caution readers not to place undue reliance on these statements. TXNM's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K, Form 10-Q filings and the information included in the Company's Forms 8-K with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

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SOURCE TXNM Energy, Inc.