v3.26.3
Regulatory and Rate Matters (Tables)
 9 Months Ended
Sep. 30, 2026
Regulated Operations [Abstract]  
Schedule of Renewable Energy Rider The following sets forth PNM’s revenue recorded under the renewable energy rider:
Revenues Recorded
Effective date
January 1,
Annual Revenue Collection
Three months ended September 30,Nine months ended September 30,
(In millions)
2025$58.7$10.9$42.5
202654.311.844.0
Schedule of Incremental Increase in Revenue Requirement As a part of the Stipulation in TNMP’s Base Rate Review, baseline values were reset to agreed upon values to be used for future DCRF and TCOS filings. From those agreed upon baseline values, the UTM application requests the following total incremental increase in the total DCRF and TCOS revenue requirement (including deferred operating and maintenance costs related to SRP and the UTM regulatory asset):
Incremental increase in revenue requirement
(In millions)
Capital investments$28.7 
SRP deferred operating and maintenance costs28.7 
UTM regulatory asset20.5 
DCRF$77.9 
Capital investments$13.1 
UTM regulatory asset13.9
TCOS$27.0 
Schedule of Rate Increases for Transmission Costs The following sets forth TNMP’s recently approved interim transmission cost rate increases:
Effective DateApproved Increase in Rate BaseAnnual Increase in Revenue
(In millions)
September 20, 2024$20.6 $3.9 
March 25, 202583.5 11.5 
September 19, 202587.4 12.3 
Schedule of Interim Distribution Rate Increases The following sets forth TNMP’s recently approved interim distribution rate increases:
Effective DateApproved Increase in Rate BaseAnnual Increase in Revenue
(In millions)
July 28, 2024$205.9 $15.6 
November 17, 202443.7 7.7 
June 29, 2025176.6 25.0 
December 29, 202518.9 1.8