Pnm Investor Relations Update on Grid Modernization and Dividends

Pnm's grid modernization efforts are underway, with a focus on improving the reliability and efficiency of the company's infrastructure. This includes the deployment of advanced technologies such as smart grid systems and energy storage solutions.

Pnm has committed to investing $1.3 billion in grid modernization initiatives over the next five years, with a goal of reducing outage times by 50%. This significant investment will help to enhance the overall performance and resilience of the company's grid.

The company's dividend payout ratio is expected to remain stable, with a payout ratio of 60-70% of earnings. This commitment to dividend payments provides a reliable source of income for investors.

Pnm investor relations offers a variety of financial information to its investors.

Pnm's financial statements can be found on their website, including annual and quarterly reports.

Their financials are audited by a reputable accounting firm, ensuring accuracy and transparency.

Pnm has a strong track record of delivering returns to its investors, with a history of steady dividend payments.

PNM Resources Inc, a pivotal player in the energy sector, supplies electricity across New Mexico and Texas through its subsidiaries PNM and TNMP.

The company generates revenue by transmitting and distributing electricity to residential and commercial customers, fueled by a combination of traditional and renewable energy sources.

PNM Resources has a blend of operations that not only caters to immediate regional power needs but also aligns with evolving energy trends.

Their strategic investments in energy infrastructure and technology advancements are central to PNM's endeavors to enhance grid reliability and efficiency.

By navigating the complex web of innovation and regulation, PNM Resources continues to drive its future growth while meeting its commitment to environmental stewardship.

PNM Resources is caught in the throes of the changing energy landscape, marked by regulatory shifts and mounting pressure for decarbonization.

The New Mexico Public Regulation Commission (NMPRC) has approved a plan to modernize the state's grid infrastructure. This plan, developed by Public Service Company of New Mexico (PNM), aims to enhance customer service and support New Mexico's clean energy transition.

The approved six-year plan includes $344 million of investments. These investments will be recovered through a tariff rider, reviewed annually.

Deployment will prioritize low-income and underserved communities. This is a crucial step in ensuring that everyone has access to reliable and efficient energy services.

The grid modernization plan will enable two-way communication on the grid, customer insights into energy usage, and real-time grid status visibility for PNM. This will lead to reduced outages and proactive problem-solving.

Here are the key benefits of the grid modernization plan:

PNM Resources has declared a regular quarterly dividend of $0.3875 per share on its common stock.

The dividend will be payable on August 9, 2024, to shareholders of record at the close of business on July 26, 2024.

PNM Resources provides electricity to over 800,000 homes and businesses in New Mexico and Texas.

The company has a diverse mix of generation and purchased power resources totaling 3.1 gigawatts of capacity.

As PNM investor relations, our business strategy is centered around diversifying our energy portfolio. We aim to achieve this through strategic investments and partnerships.

Our goal is to reduce our reliance on fossil fuels and transition to cleaner energy sources, such as solar and wind power. This will not only benefit the environment but also provide a stable source of revenue.

By investing in renewable energy, we can reduce our operational costs and improve our bottom line.

PNM, a subsidiary of TXNM Energy, is planning to join the California Independent System Operator (CAISO) Extended Day-Ahead Market (EDAM). This decision was made to enhance reliability and economic benefits for customers.

The EDAM market is scheduled to launch in 2026, with PNM's participation expected by 2027. This will provide customers with additional benefits.

PNM has already participated in CAISO's Western Energy Imbalance Market (WEIM) since 2021, which has provided New Mexico customers with nearly $125 million in benefits. EDAM is projected to offer $20 million in annual benefits.

CAISO President and CEO Elliot Mainzer expressed enthusiasm for PNM's participation, highlighting the potential for greater economic and reliability benefits.

In an effort to reverse recent setbacks, the company is taking a bold step by filing an ambitious rate case. This move is a clear indication of their commitment to growth and stability.

The rate case aims to increase revenue by 15% by implementing new pricing structures that will be more in line with industry standards. This is a significant increase, but one that is necessary to offset the recent decline in sales.

The company has been working tirelessly to identify areas where costs can be reduced, and they're confident that these efforts will pay off in the long run. By cutting costs and increasing revenue, they're hoping to get back on track and achieve their goals.

A key component of the rate case is the proposal to introduce a new tiered pricing system, which will provide customers with more flexibility and options. This move is expected to be well-received by customers, who will appreciate the added value and convenience.

The company's leadership is optimistic about the outcome of the rate case, and they're confident that it will be approved. With a successful rate case, they'll be able to invest in new initiatives and continue to grow and expand their operations.