PNM Resources

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PNM Resources
Type {Public (NYSEPNM)
Headquarters 414 Silver Ave. SW
Albuquerque, NM 87102
Area served NM, TX
Key people Jeffry E. Sterba, CEO
Industry Electric Producer & Utility
Products Electricity
Revenue $1.91 billion (2007)[1]
Net income $74.9 million (2007)[1]
Employees 3,124 (2007)
Subsidiaries Public Service Company of New Mexico (PNM)
Texas-New Mexico Power
First Choice Power
Website PNMResources.com

PNM Resources is an energy holding company based in the U.S. state of New Mexico. Headquartered in Albuquerque, PNM Resources supplies electricity to 725,000 homes and businesses in New Mexico and Texas and natural gas to 471,000 customers in New Mexico through its utility and energy service subsidiaries, including:

  • PNM, a service utility providing electricity and natural gas in New Mexico;
  • Texas-New Mexico Power (TNMP), an electricity utility in New Mexico and electric transmission and distribution company in Texas;
  • First Choice Power, a deregulated competitive retail electric provider in Texas; and
  • Avistar, an energy research and development company.

Both TNMP and First Choice were recently acquired by the parent company. Many of First Choice's customers are serviced through the TNMP network. Customers in southern New Mexico may receive gas from the utility PNM while receiving power from TNMP (a division which will continue until 2007). PNM Resources and its subsidiaries also sell power on the wholesale market in the western United States.

The corporation has consolidated operating revenues of $2.3 billion. As of 2004, it was the only Fortune 1000 company in the sparsely-populated state.

PNM Resources leaves Chamber of Commerce over climate policy

In September 2009, PNM announced it was quitting the U.S. Chamber of Commerce because of the lobbying organization's opposition to climate legislation. A statement from the company said it viewed climate change as a pressing issue and that it wanted to work with organizations that back "thoughtful, reasonable climate change legislation."[2]

PG&E and Exelon have also left the Chamber of Commerce over its opposition to greenhouse gas regulations.[3]

Power portfolio

Out of its total 2,332 MW of electric generating capacity in 2005 (0.22% of the U.S. total), PNM produced 79.2% from coal, 19.9% from natural gas, and 0.9% from oil. All of PNM's power plants are in New Mexico.[4]

Existing coal-fired power plants

PNM Resources owned one coal-fired power plant in 2005, with 1,848 MW of capacity:[4][5][6]

Plant Name State County Year(s) Built Capacity 2007 CO2 Emissions 2006 SO2 Emissions
San Juan NM San Juan 1973, 1976, 1979, 1982 1848 MW 13,000,000 tons 14,980 tons

Articles and Resources

References

  1. 1.0 1.1 PNM Resources Inc., BusinessWeek Company Insight Center, accessed July 2008.
  2. [http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/09/25/state/n093901D93.DTL&type=business "PNM to leave US Chamber of Commerce over climate," Associated Press, September 25, 2009.
  3. "Out the Door: Exelon Leaves Chamber of Commerce over Climate Policy,"] Wall Street Journal, September 28, 2009.
  4. 4.0 4.1 Existing Electric Generating Units in the United States, 2005, Energy Information Administration, accessed April 2008.
  5. Environmental Integrity Project, Dirty Kilowatts: America’s Most Polluting Power Plants, July 2007.
  6. Dig Deeper, Carbon Monitoring for Action database, accessed June 2008.

Related SourceWatch Articles

External Articles

Wikipedia also has an article on PNM Resources. This article may use content from the Wikipedia article under the terms of the GFDL.