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Texas-New Mexico Power Settles To Recover $105 Mln Of Distribution Infrastructure Investments

Texas-New Mexico Power Company, a unit of PNM Resources, Inc. (PNM) has filed a settlement in its application to amend its Distribution Cost Recovery Factor to recover nearly 105 million in net distribution infrastructure investments made during 2020, the company said in a statement on Friday.

The settlement helps PNM Resources to add $13.5 million to its annual revenue which is 98% of the company's filed revenue requirement.

The settlement, subject to approval from the Public Utility Commission of Texas, is expected to be implemented September 1, 2021.

PNM Resources said it plans announce its second quarter results on July 30, 2021.

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