Electric Operating Revenues (Tables)

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

A disaggregation of revenues from contracts with customers by the type of customer is presented in the table below.


						PNM						TNMP						TXNM
Three Months Ended September 30, 2026						(In thousands)
Electric Operating Revenues:
Contracts with customers:
Retail electric revenue
Residential						$	218,299					$	89,015					$	307,314
Commercial						149,843						49,626						199,469
Industrial						41,575						15,012						56,587
Public authority						7,864						1,268						9,132
Economy energy service						3,904						—						3,904
Transmission (1)						57,433						44,027						101,460
Wholesale energy sales						50,702						—						50,702

Miscellaneous						1,666						1,102						2,768
Total revenues from contracts with customers						531,286						200,050						731,336
Alternative revenue programs						(5,216)						5,412						196
Other electric operating revenues						1,758						—						1,758
Total Electric Operating Revenues						$	527,828					$	205,462					$	733,290


Nine Months Ended September 30, 2026
Electric Operating Revenues:
Contracts with customers:
Retail electric revenue
Residential						$	468,757					$	205,011					$	673,768
Commercial						356,049						141,716						497,765
Industrial						123,646						46,147						169,793
Public authority						17,528						5,750						23,278
Economy energy service						10,425						—						10,425
Transmission (1)						137,547						133,908						271,455
Wholesale energy sales						82,085						—						82,085

Miscellaneous						5,661						3,404						9,065
Total revenues from contracts with customers						1,201,698						535,936						1,737,634
Alternative revenue programs						6,966						31,935						38,901
Other electric operating revenues						10,291						—						10,291
Total Electric Operating Revenues						$	1,218,955					$	567,871					$	1,786,826

(1) Includes PNM interconnection withdrawal penalty billings of $12.5 million in accordance with FERC Order No. 2023 for the three and nine months ended September 30, 2026.


						PNM						TNMP						TXNM
Three Months Ended September 30, 2025
Electric Operating Revenues:
Contracts with customers:
Retail electric revenue
Residential						$	187,307					$	77,362					$	264,669
Commercial						149,470						51,458						200,928
Industrial						38,725						17,812						56,537
Public authority						7,789						2,212						10,001
Economy energy service						5,772						—						5,772
Transmission						37,874						43,021						80,895
Wholesale energy sales						34,774						—						34,774
Miscellaneous						1,739						973						2,712
Total revenues from contracts with customers						463,450						192,838						656,288
Alternative revenue programs						(2,236)						(9,396)						(11,632)
Other electric operating revenues						2,506						—						2,506
Total Electric Operating Revenues						$	463,720					$	183,442					$	647,162

Nine Months Ended September 30, 2025
Electric Operating Revenues:
Contracts with customers:
Retail electric revenue
Residential						$	431,870					$	180,319					$	612,189
Commercial						363,468						142,879						506,347
Industrial						107,016						43,663						150,679
Public authority						18,502						6,194						24,696
Economy energy service						23,770						—						23,770
Transmission						109,243						124,519						233,762
Wholesale energy sales						71,598						—						71,598

Miscellaneous						4,600						2,878						7,478
Total revenues from contracts with customers						1,130,067						500,452						1,630,519
Alternative revenue programs						154						(3,550)						(3,396)
Other electric operating revenues						5,251						—						5,251
Total Electric Operating Revenues						$	1,135,472					$	496,902					$	1,632,374