PNM Resources

#3221

Rank

$3.77B

Marketcap

United States

Country

Leadership team

Ms. Patricia K. Vincent-Collawn (Chairman & CEO)

Mr. Joseph D. Tarry (Pres & COO)

Mr. Ronald N. Darnell (Sr. VP of Public Policy)

Products/ Services

Electrical Distribution, Energy, Energy Management, Wind Energy

Number of Employees

1,000 - 20,000

Headquarters

Albuquerque, New Mexico, United States

Established

1917

Company Registration

SEC CIK number: 0001108426

Net Income

100M - 500M

Revenue

Above - 1B

Traded as

PNM

Social Media

URL

https://www.pnmresources.com

Overview

Location

Recognition and Award

References

Summary

PNM Resources, Inc., through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity. The segment generates electricity using coal, natural gas and oil, nuclear fuel, solar, wind, and geothermal energy sources. As of December 31, 2021, this segment had owned or leased facilities with a total net generation capacity of 2,168 megawatts; and owned 3,426 miles of electric transmission lines, 5,751 miles of distribution overhead lines, 5,765 miles of underground distribution lines, and 250 substations. The segment also owns and leases communication, office and other equipment, office space, vehicles, and real estate. The TNMP segment provides regulated transmission and distribution services. As of December 31, 2021, the segment owned 983 miles of overhead electric transmission lines, 7,297 miles of overhead distribution lines, 1,408 miles of underground distribution lines, and 113 substations. The segment also owns and leases vehicles, service facilities, and office locations throughout its service territory. The company serves approximately 806,000 residential, commercial, and industrial customers and end-users of electricity in New Mexico and Texas. PNM Resources, Inc. was incorporated in 1882 and is headquartered in Albuquerque, New Mexico.

History

PNM Resources was founded as New Mexico Power Company in May 1913 and became a regulated public electric utility. In 1931, the company was renamed as Public Service Company of New Mexico (PNM). In 1946 the Company was incorporated as an independent entity – PNM Resources and became a member of the S&P 500. In 2000, PNM forged a merger with Texas-New Mexico Power Company and changed its name to AvTex

Mission

Our mission is to deliver safe, reliable, affordable and clean energy services to our customers and be a leader in our industry and community.

Vision

Create enduring value for customers, communities and shareholders.

Key Team

Ms. Elisabeth A. Eden (Sr. VP, CFO & Treasurer)

Mr. Michael Patrick Mertz (VP & Chief Information Officer)

Ms. Lisa Goodman (Director of Investor Relations)

Mr. Patrick V. Apodaca (Sr. VP, Gen. Counsel & Sec.)

Ms. Rebecca R. Teague (VP of HR)

Mr. Henry E. Monroy (VP of Regulatory & Corp. Controller)

Recognition and Awards

PNM Resources was named to the World’s Most Admired Companies, FORTUNE Magazine list in 2021. In 2020 the company was recognised by CDP, the non-profit organisation that drives companies and governments to reduce their greenhouse gas emissions with their Supplier Climate Performance Leadership Level A Award. Furthermore, in 2019 PNM scored Climate A List award from leading global environmental disclosure platform, CDP.