PNM Resources' Texas Utility Receives Approval for Smart Meters

PNM Resources' PNM transmission and distribution utility in Texas, TNMP, today received regulatory approval to recover the costs of installing an Advanced Metering System throughout its service area. The unanimous approval by the Public Utility Commission of Texas is based on an agreement reached with all parties that will allow for the recovery of $113.4 million, including $66.3 million of capital, through a surcharge during the next 12 years. TNMP will install up to 240,000 meters beginning this year through 2016.