PNM Resources

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Most glowing lights in New Mexico are lit by PNM Resources. The company’s primary utility Public Service Company of New Mexico (PNM Electric) distributes power to more than 503,100 residential, commercial, and industrial customers in the state. PNM Resources has (or purchases power from) plants with more than 2,630 MW of generating capacity and markets energy to wholesale customers in the western US. Its Texas-New Mexico Power Company (TNMP) unit provides transmission and distribution services at regulated rates to about retail electricity providers that, in turn, provide retail electric service to 230,340 end users.

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2.3

Overall Excellence Rating

Industry

Utilities

Category

Energy & Utilities

ESG/Ethical Impact

At PNM Resources, our vision, purpose and strategy are built upon a commitment to sustainability and Environmental, Social and Governance principles. Our investment plans are focused on transitioning our generation portfolio at PNM to fully eliminate carbon emissions and investing in the critical transmission and distribution infrastructure needed to support reliable growth and deliver a clean energy future while maintaining affordability. We serve electricity to over 800,000 homes and businesses in New Mexico and Texas through our regulated utilities, PNM and TNMP. PNM has a generation portfolio producing 2,660 megawatts as of December 31, 2022. PNM Resources has committed to achieving carbon-free power generation by 2040 – surpassing the goals of the Paris Climate Agreement. Retired the coal-fired San Juan Generating Station (SJGS) in 2022 after nearly half a century of service, reducing PNM’s resource capacity to less than 10% coal and achieving 2025 interim carbon emission reduction goals ahead of schedule. Increased PNM’s resource portfolio capacity to 40% renewables and 55% carbon-free. Joined the Electric Power Research Institute (EPRI) Climate READi (Resilience and Adaption) Initiative, a three-year initiative to develop a comprehensive and consistent approach to physical climate risk and facilitate the analysis and application of appropriate climate data among all stakeholders to enhance the planning, design and operation of a resilient power system. Filed a PNM Grid Modernization plan for infrastructure investments designed to use state-of-the art technology for a resilient, reliable, efficient and decarbonized electric system.

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Awards Received

2023

Revenues

$2,250,000,000.00

Website Traffic

Employee Rating

3

Customer Rating

3.5

Company Size

5000-10000

ESG Risk Rating

2

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