- PNM Resources
PNM Resources NYSE|PNM is an energy holding company based in the
U.S. state ofNew Mexico . The acronym PNM by itself usually refers to the PNM Resources subsidiary Public Service Company of New Mexico (described below). Headquartered inAlbuquerque , PNM Resources supplies electricity to 725,000 homes and businesses in New Mexico andTexas and natural gas to 471,000 customers in New Mexico through its utility and energy service subsidiaries.Primary holdings
Public Service Company of New Mexico (PNM)
Public Service Company of New Mexico is a corporation that is wholly owned by PNM Resources. In marketing material it is usually called PNM.
Headquartered in
Albuquerque , it provides electricity to 413,000 customers in theurbanized or semi-urbanized areas in the northern half of the state. Elsewhere,rural electric cooperative s provide much of the power. The company provides natural gas to most of its electric customers as well as customers in southern New Mexico, many of whom receive electricity from Texas–New Mexico Power. PNM’s gas customers number 471,000. PNM maintains approximately convert|2000|mi|km of gas transmission pipeline, approximately convert|10000|mi|km of gas distribution pipelines, convert|2282|mi|km of electric transmission lines, and 7,594 electric distribution lines. PNM is a significant owner of the San Juan generation facility, a coal fired plant located near Farmington, New Mexico, and a 10% owner in the Palo Alto Nuclear Generating Facility near Phoenix, AZ. PNM also owns and operates several natural gas fired plants throughout the state of New Mexico including Reeves Generating Station in Albuquerque, most of which are used to meet additional demand for electricity in the summer months. PNM employs approximately 2,700 people and has been noted as one of the top companies in the United States for minorities to work for.Texas—New Mexico Power Company
Texas—New Mexico Power is a corporation that is wholly owned by PNM Resources. It is a regulated electric utility operating in Texas.
First Choice Power, L. P.
First Choice is a retail electric provider in Texas.
EnergyCo, LLC
PNM Resources owns 50% of EnergyCo, LLC, an unregulated energy company.
Cascade Investments LLC owns the other 50%, and owns a large stake in PNM Resources itself. EnergyCo focuses on growing markets in the western United States. It owns electric generating plants and sells in the wholesale and retail markets.Corporate organization and history
PNM was originally founded in 1917 as the Albuquerque Gas and Electric Company. PNM sold the gas part of the business to Southern Union Gas Company of Dallas in 1949. These sold portions became the Gas Company of New Mexico. In 1985, however, PNM reacquired the Gas Company of New Mexico after Southern Union Gas Company reached a settlement stemming from federal anti-trust litigation. In 1994, both electric and gas operations began serving customers as PNM.
External links
* [http://www.pnmresources.com PNM Resources official website]
* [http://www.pnm.com/ Public Service Company of New Mexico official website]
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