News Release

Dec. 1, 2008

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

December Brings Lower Natural Gas Prices for PNM Customers

Albuquerque: PNM customers will pay about 59 cents per therm this December for natural gas, roughly 23 percent less than the price last year at this time.

Assistance available

LIHEAP: More assistance is available this year through the Low Income Home Energy Program known as LIHEAP. The program is administered by the N.M. Human Services Department and will provide a one-time benefit of approximately $300 for income-eligible households to use for electric, natural gas, propane, fire wood, or wood pellet bills. For help, contact: (800) 283-4465.

Winter utility protection: Those who qualify for LIHEAP can also be protected from having their utility service disconnected during the winter heating season provided they are current on their utility bills or on a payment plan.

Weatherization: The EnergySmart Program provides limited assistance to low income homeowners to improve the energy efficiency of their homes to help reduce their utility costs. The program is made possible with funds provided by the state and federal government, and PNM.

For help, contact:

• Albuquerque: Central New Mexico Housing Corporation, (505) 345-4949
• Santa Fe: Los Amigos Educational Resource Center, (505) 983-7743
• Roswell: Region IV Housing Authority, (505) 622-0881
• Las Cruces: Community Action Agency of Southern NM, (505) 523-1639

PNM Good Neighbor Fund: The PNM Good Neighbor Fund provides a one-time grant to help eligible gas and electric customers with utility bills. Funds are administered by the Salvation Army and made possible by donations from PNM customers, employees and shareholders.

For information about where to turn for help in your community, call PNM at 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 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.