Core Points - The New Mexico Public Regulation Commission (NMPRC) has issued a Certification of Stipulation recommending approval of PNM's 2025 Rate Request application [1] - The stipulation includes a $105.0 million increase in PNM's revenue requirements, based on a 9.45% return on equity and a 51% equity capitalization structure [3] - The rate increase will be phased in, with 50% effective July 1, 2025, and the remaining increase effective April 1, 2026 [2] Company and Industry Details - PNM is a wholly-owned subsidiary of TXNM Energy, which serves over 800,000 homes and businesses across Texas and New Mexico [6] - The current authorized rates for PNM are based on a 9.26% return on equity and a 50% equity capitalization structure [3] - Various parties, including the Utility Division Staff of NMPRC and several community organizations, support the stipulation, while other intervening parties do not oppose it [4]
Recommendation to Approve Unopposed Stipulation in PNM 2025 Rate Request