News Release

Nov. 30, 2007

Dec. 2007 COST OF GAS Natural gas cost: 76.95 cents per therm Estimated "average" use: 101 therms based on 10-year average Estimated average bill: $119.55 The per-therm cost of natural gas is 0.8 percent higher than last month and 11.1 percent lower than the cost for the same month last year. By law, PNM passes the cost of natural gas on to customers with no additional mark-up.

PNM NEWS News releases Financial news Contact PNM

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

PNM Customers See Lower December Natural Gas Prices

Albuquerque: PNM customers will pay 11.1 percent less per therm for natural gas this December than they did last year, thanks to strong storage levels, warm weather across the nation and a mild hurricane season in the Gulf of Mexico.

Starting December 1, low-income families in need may be eligible to receive a one-time grant to help with winter utility bills through the PNM Good Neighbor Fund.  Last year, more than 5,100 families received help through the Fund. The Fund is administered by the Salvation Army and is made possible by contributions from PNM shareholders, employees and customers.

There are three ways for PNM customers to donate to the fund:

• Include a one-time donation with your monthly payment by writing in the amount on your payment stub and adding that amount to your check.
• Sign up to “Round up” your bill each month to the next even dollar.
• Sign up for an ongoing monthly contribution in the amount you specify. The amount is automatically added to your PNM bill each month.

For more information about receiving help, contact the Salvation Army or call 1-888-DIAL PNM (888-342-5766).

PNM is a subsidiary of PNM Resources, an energy holding company based in Albuquerque, N.M. PNM provides electric utility service to 435,000 customers and natural gas service to 487,000 customers in New Mexico. The company also sells power on the wholesale market in the West. PNM Resources stock is traded primarily on the NYSE under the symbol PNM. For more information, see the company's Web site at PNM.com.