January 23, 2017 6:10 PM ET

Electric Utilities

Company Overview of Public Service Company of New Mexico

Company Overview

Public Service Company of New Mexico, an electric utility company, engages in the generation, transmission, and distribution of electricity for retail customers in New Mexico. The company generates electricity using coal, nuclear fuel, gas and oil, and solar sources. It is also involved in the provision of transmission services to third parties; and the generation and sale of electricity into the wholesale market. The company offers retail electric service to customers in north central New Mexico, including the cities of Albuquerque, Rio Rancho, and Santa Fe, as well as other areas of southern New Mexico; provides electricity to firm-requirements wholesale customers in New Mexico and Arizona...

414 Silver Avenue SW

Albuquerque, NM 87102

United States

Founded in 1917

1,074 Employees



Key Executives for Public Service Company of New Mexico

Chairman, Chief Executive Officer, President, Chairman of PNM Resources Inc, Chief Executive Officer of PNM Resources Inc and President of Pnm Resources Inc
Age: 57
Chief Financial Officer, Executive Vice President, Director and Chief Financial Officer of PNM Resources Inc
Age: 62
Principal Accounting Officer, Vice President, Corporate Controller, Principal Accounting Officer of Pnm Resources Inc, Vice President of Pnm Resources Inc and Corporate Controller of Pnm Resources Inc
Age: 62
Chief Information Officer, Vice President and Corporate Controller
Age: 46
Senior Vice President of Public Policy
Age: 67
Compensation as of Fiscal Year 2016.

Public Service Company of New Mexico Key Developments

Public Service Company of New Mexico Plans to Lay Off 30 in Cost-Cutting Move

Public Service Company of New Mexico announced it would lay off 30 managers and staff members as part of an effort to reduce costs. The eliminated positions account for 2% of the company's workforce here.

Public Service Company of New Mexico Enters into Third Amendment to $400,000,000 Credit Agreement

In addition, on November 2, 2016, Public Service Company of New Mexico entered into a Third Amendment to Credit Agreement, amending its $400,000,000 unsecured revolving credit facility (the Third Amendment to PNM Facility), among PNM, the lenders party thereto, and Wells Fargo, as administrative agent. The Third Amendment to PNM Facility is effective as of November 2, 2016, and extends the maturity date to October 31, 2021 for all but one lender commitment, whose commitment to lend up to $40,000,000 shall terminate, and the repayment of any obligations owed to it shall continue to mature, on October 31, 2020. At that time, the remaining lenders will either increase their commitments by a corresponding amount or the facility will become a $360,000,000 facility during the extended term. The Third Amendment to PNM Facility also includes an additional one-year extension option subject to approval by a majority of lenders, eliminates the concept of Material Leases as the term is used in calculating PNM's ratio of Consolidated Indebtedness to Consolidated Capitalization (to clarify that PNM's rental payments under the extended terms of five Palo Verde Nuclear Generating Station leases are not treated as debt), and adds an acknowledgement and consent to the write-down and conversion powers in respect of any liability of a European Union regulated lender.

PNM Resources, Inc and Public Service Company of New Mexico and Texas-New Mexico Power Company Announces Executive Change, with effect from January 03, 2017

On October 31, 2016, Ronald E. Talbot, Senior Vice President and Chief Operating Officer (principal operating officer) of PNM Resources, Inc. 'PNMR' Public Service Company of New Mexico 'PNM', and Texas-New Mexico Power Company notified the Company that he is resigning as an officer of the company and as a director of PNM and TNMP effective January 3, 2017. The Company intends to eliminate Mr. Talbot's position and will reassign his duties.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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