News Release

Dec. 1, 2003

December Natural Gas Price Stays Steady for PNM Customers

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NEWS MEDIA CONTACT Susan Sponar Telephone: (505) 241-2768

Albuquerque: The December price of natural gas for PNM customers is 48.65 cents per therm, just below the November price of 48.70 cents per therm.

The average PNM residential customer, using 102 therms, will pay $78.97 for natural gas service in December. This compares with last December's average bill of $72.25, when the price was 42.60 cents per therm.

The cost of natural gas is a pass through for PNM. PNM purchases natural gas on the wholesale market and passes the cost along to customers. The company attributes the slight drop in price for December to moderate weather and ample supplies of natural gas in storage.

The company is urging customers to considering donating to the PNM Good Neighbor Fund, which last year helped more than 7,000 low-income families pay their winter heating bills. PNM shareholders match donations to the fund by employees and customers. That match turns every $1 donated into $2, increasing the fund's reach throughout the state.

Customers may designate a donation on the payment stub they return to PNM every month.

Customers having trouble paying their heating bills should call the PNM phone number on their bill, or the Salvation Army, for information on how to access the assistance. Last year, the fund provided more than $800,000 in assistance to New Mexico families.