PNM Rate Case Settlement Period Extension Requested

ALBUQUERQUE, N.M., March 17, 2017 /PRNewswire/ -- PNM Resources' (NYSE: PNM) New Mexico utility, Public Service Co. of New Mexico (PNM) and other parties today requested that the New Mexico Public Regulation Commission grant an extension of the settlement period for PNM's current rate filing.  If approved, this extension would move the deadline for filing any potential settlement to April 27, 2017.  Settlement discussions with parties to the rate case are ongoing. 

Additionally, PNM's Integrated Resource Plan (IRP) process is continuing.  Prior to the IRP's July 3, 2017 filing, a public process occurs that enables parties to consider the assumptions made in the resource portfolio modeling. Although no final decision has been made, a preliminary analysis indicates that retiring the remaining two units of San Juan Generating Station in 2022 could provide long-term benefits to customers.

The company expects to provide an update on both the rate case and the IRP during its first quarter earnings call which is currently planned for April 28, 2017.

Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2016 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,791 megawatts of generation capacity and provides electricity to more than 767,000 homes and businesses in New Mexico and Texas. For more information, visit the Company's website at www.PNMResources.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release that relate to future events or PNM Resources, Inc.'s ("PNMR") or Public Service Company of New Mexico's ("PNM") (collectively, the "Company") expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR and PNM assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR and PNM caution readers not to place undue reliance on these statements. PNMR's and PNM's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

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SOURCE PNM Resources, Inc.