PNM Resources' Texas Utility Files Smart Meter $113.4M Settlement

PNM Resources' PNM transmission and distribution utility in Texas, TNMP, today filed a proposed settlement regarding its request to recover the costs of installing an Advanced Metering System throughout its service area. Filed with the Public Utility Commission of Texas, the unopposed settlement was reached with all parties and would allow for the recovery of $113.4 million, including $66.3 million of capital, through a surcharge during the next 12 years. Pending PUCT approval, TNMP will install approximately 240,000 meters beginning this year through 2016.