News Release
May 23, 2008
Former TNMP Customers Unaffected by PNM Electric Rate Increase and Fuel Surcharge
Albuquerque: In the wake of prominent media coverage of PNM’s electric rate increase in late April and approval yesterday of an emergency fuel surcharge, the electric utility is reminding its former TNMP customers that the increase does not apply to them.
“As we promised these customers when PNM’s parent company, PNM Resources, purchased TNMP in 2005, rates will not increase until 2011 at the earliest,” said Teri Gatton, PNM Director of Operations for Western New Mexico.
The approximately 50,000 customers exempt from the PNM rate increase are those living in and around the Ruidoso, Alamogordo, Lordsburg, Silver City and Bayard communities that were formerly served by TNMP.
PNM is a subsidiary of PNM Resources, an energy holding company based in Albuquerque, N.M. PNM provides electric utility service to more than 487,000 customers and natural gas service to 492,000 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.
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