#United States #TXNM Energy #Albuquerque #New Mexico #PNM Energy

New Mexico Public Regulation Commission Approves PNM's 2028 Resource Expansion

In a significant step towards enhancing renewable energy capacity, the New Mexico Public Regulation Commission (NMPRC) convened on June 26, 2025, and officially approved an unopposed stipulation concerning the Public Service Company of New Mexico, commonly known as PNM. PNM is a subsidiary of TXNM Energy, a notable player in the regional energy market.

Key Highlights of the Approval

The approval is aimed at augmenting PNM's resource base, with an emphasis on solar and battery storage systems. By 2028, PNM is poised to add 450 megawatts (MW) of new solar and battery storage capacity. This initiative is crucial for meeting the zero-carbon energy requirements stipulated in New Mexico's Energy Transition Act.

Resources Approved in the Application

The NMPRC's decision includes several key components:
1. Extension of Valencia Purchase Power Agreement (PPA)
- This extension will enable a continuous supply of 167 MW of power through 2039, ensuring reliability in energy delivery as the existing agreement is set to expire in 2028.

2. Energy Storage Agreements (ESA)
- Two new battery storage facilities, each with a capacity of 150 MW, are part of the plan. These facilities aim to enhance energy storage effectiveness, crucial for integrating renewable energy sources into the grid.

3. New Solar and Battery Storage Facility
- A new facility with 100 MW of solar and 50 MW of battery storage is set to be developed in the Central Consolidated School District. This initiative demonstrates PNM's commitment to impactful community investments, with a projected capital investment of $252 million between 2026 and 2028.

Collaborative Efforts

The stipulation had strong support from various stakeholders, including:

• - Utility Division Staff of NMPRC
• - Coalition for Clean Affordable Energy
• - New Energy Economy
• - New Mexico Affordable Reliable Energy Alliance
• - Western Resource Advocates
• - Prosperity Works

The Central Consolidated School District has also voiced its backing for this stipulation, showing a commitment to integrating renewable energy within local educational frameworks.

TXNM Energy: Background

TXNM Energy (NYSE TXNM), based in Albuquerque, serves approximately 800,000 homes and businesses in New Mexico and Texas. The company operates through its regulated utilities, which include PNM and Texas-New Mexico Power (TNMP), focusing on sustainable energy solutions that benefit the communities it serves.

For further information on this decision, or details about the related filings, stakeholders can access documentation on TXNM Energy’s official website.

Conclusion

The NMPRC’s approval of PNM’s resource application marks a progressive step towards a sustainable and zero-carbon energy future for New Mexico. This initiative reinforces the importance of community and collaborative efforts in achieving energy transitions, setting a standard for how energy companies can adapt to meet modern environmental and energy demands.