News Release

Sept. 27 , 2007

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

PNM Resources Joins Other Utilities at Clinton Global Initiative in Commitment to Energy Efficiency

Albuquerque: PNM Resources, the parent company of PNM, TNMP and First Choice Power, today joined seven other energy companies at the Clinton Global Initiative in a commitment to focus on energy efficiency as an important way to reduce greenhouse gas emissions.

Former President Bill Clinton joined Jeff Sterba, PNM Resources chairman, president and CEO, and other utility executives in New York City as they announced commitments to investment in energy efficiency that will avoid about 5 million tons of greenhouse gas emissions annually by 2010. The utilities together serve 20 million electric customers in 22 states.

PNM Resources believes the commitments of its regulated utilities, PNM and TNMP, to invest in energy efficiency resources could save enough electricity to power 16,000 average-sized homes annually by 2010. That level of savings could avoid about 85,000 tons of carbon dioxide emissions per year, based on average PNM emissions data. PNM will launch several new electric energy efficiency programs this fall, including customer incentives for the purchase of compact-fluorescent light bulbs, refrigerator recycling, installation of indirect evaporative coolers, construction of ENERGY STAR® homes, upgrade of commercial lighting and low-income home weatherization activities.

"Energy efficiency holds immense potential to help us meet several challenges, including growing customer energy needs, the rising price of producing electricity and the need to address climate change," Sterba said. "This potential is within reach if utilities, state policy makers and stakeholders can work together to properly value energy efficiency and what it could bring to our society and economy."

The utility leaders said they believe that with state policy frameworks to support increased investment in energy efficiency, an expanded portfolio of efforts could avoid up to 30 million tons per year of greenhouse gas emissions by 2017, the equivalent of removing 6 million cars from the road. The utilities committed to working with policy makers on needed changes and to support the creation of an Institute for Electric Efficiency, which will serve as an industry clearinghouse for information sharing and collaboration.

In addition to PNM Resources, the energy companies represented at today's event included Con Edison, Edison International, Great Plains Energy, Duke Energy, Pepco Holdings, Sierra Pacific Resources and Xcel Energy.

Clinton Global Initiative is a non-partisan catalyst for action, bringing together a community of global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. CGI has approximately 1,000 members, diverse and influential leaders from all over the world, who make tangible commitments to take action to address specific global challenges. At the center of CGI is the Annual Meeting, held in New York each September coinciding with the U.N. General Assembly. This meeting is designed to provide insights into global problems for the purpose of enabling productive action.

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2006 consolidated operating revenues of $2.5 billion. Through its utility and energy subsidiaries, PNM Resources serves electricity to approximately 835,000 homes and businesses in New Mexico and Texas and natural gas to nearly 490,000 customers in New Mexico. Its utility subsidiaries are PNM and Texas-New Mexico Power. Other subsidiaries include First Choice Power, a deregulated competitive retail electric provider in Texas, and Avistar, an unregulated energy technology company. With generation resources of more than 2,650 megawatts, PNM Resources and its subsidiaries market power throughout the Southwest, Texas and the West. In addition, the joint venture in which the company has a 50-percent ownership owns approximately 920 megawatts of generation. For more information, visit www.PNMResources.com.