PUBLIC SERVICE CO OF NEW MEXICO0001108426false00011084262025-05-152025-05-150001108426pnm:PublicServiceCompanyOfNewMexicoMember2025-05-152025-05-15
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| UNITED STATES |
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C. 20549 |
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| FORM |
8-K |
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| CURRENT REPORT |
| Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 |
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| Date of Report (Date of earliest event reported) |
May 15, 2025 |
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(May 15, 2025) |
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Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. |
TXNM Energy, Inc.
(A New Mexico Corporation)
414 Silver Ave. SW
Albuquerque, New Mexico 87102-3289
Telephone Number - (505) 241-2700
Commission File No. - 001-32462
IRS Employer Identification No. - 85-0468296
Public Service Company of New Mexico
(A New Mexico Corporation)
414 Silver Ave. SW
Albuquerque, New Mexico 87102-3289
Telephone Number - (505) 241-2700
Commission File No. - 001-06986
IRS Employer Identification No. - 85-0019030
____________________________________________________________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 40.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 40.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Registrant |
Title of each class |
Trading Symbol(s) |
Name of exchange on which registered |
| TXNM Energy, Inc. |
Common Stock, no par value |
TXNM |
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On May 15, 2025, the New Mexico Public Regulation Commission (the “NMPRC”) approved the unopposed stipulation filed by Public Service Company of New Mexico (“PNM”) and parties in PNM's 2025 Rate Request application. Under the approved stipulation, customer rates will be phased in with 50% of the increase effective July 1, 2025 and the second phase effective April 1, 2026. The overall revenue requirement increase of $105.0 million is based on a 9.45% return on equity and a 51.0% equity capitalization structure.
A copy of the press release discussing the approval of the unopposed stipulation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific references in such a filing.
Item 8.01 Other Events.
The first paragraph of Item 7.01 above is incorporated into this item 8.01.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.
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TXNM ENERGY, INC. |
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PUBLIC SERVICE COMPANY OF NEW MEXICO |
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(Registrants) |
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| Date: May 15, 2025 |
/s/ Gerald R. Bischoff |
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Gerald R. Bischoff |
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Vice President and Corporate Controller |
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(Officer duly authorized to sign this report) |
EX-99.1
2
a05152025txnmex991.htm
EX-99.1
Document
For Immediate Release
May 15, 2025
PNM, TNMP Receive Rate Approvals
(ALBUQUERQUE, N.M.) – PNM and TNMP, the wholly-owned subsidiaries of TXNM Energy (NYSE: TXNM), each received regulatory approvals today for pending rate recovery filings.
Approval of PNM 2025 Rate Request Unopposed Stipulation
PNM received approval from the New Mexico Public Regulation Commission (NMPRC) for the unopposed stipulation filed by PNM and parties in PNM’s 2025 Rate Request application.
Under the approved stipulation, customer rates are phased in with 50% of the increase effective July 1, 2025, and the remaining increase effective April 1, 2026.
The approved $105.0 million increase to PNM’s revenue requirements is based on a 9.45% return on equity and a 51% equity capitalization structure on $3.0 billion of rate base. PNM’s previously authorized rates were based on a 9.26% return on equity and 50% equity capitalization structure.
The Final Order will be available once issued, along with other documents related to the application, at https://www.txnmenergy.com/investors/rates-and-filings/pnm-nmprc-filings.aspx.
Approval of TNMP Interim Distribution Cost Recovery
TNMP received approval from the Public Utility Commission of Texas (PUCT) for its recent Distribution Cost Recovery Factor application.
On May 15, 2025, the PUCT approved TNMP’s Application to Amend its Distribution Cost Recovery Factor (DCRF). The approved annual rate increase of $25.0 million recovers $176.6 million of incremental distribution rate base at TNMP’s authorized return on equity of 9.65% at an authorized capital structure of 55% debt and 45% equity. The associated rates will become effective in approximately 45 days.
The Order of Approval will be available once issued, along with other documents related to the application,
at https://www.txnmenergy.com/investors/rates-and-filings/tnmp-puct-filings.aspx.
Background:
TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company's website at www.TXNMEnergy.com.
Contacts:
Analysts Media
Lisa Goodman Corporate Communications
(505) 241-2160 (505) 241-2743
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release for TXNM Energy, Inc. (“TXNM”), Public Service Company of New Mexico (“PNM”), or Texas-New Mexico Power Company (“TNMP”) (collectively, the “Company”) that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies, including the unaudited financial results and earnings guidance, are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates and apply only as of the date of this report. TXNM, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, TXNM, PNM, and TNMP caution readers not to place undue reliance on these statements. TXNM's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company’s Form 10-K, Form 10-Q filings and the information included in the Company’s Forms 8-K with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.
(END)
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