PNM

From Wikipedia, the free encyclopedia

This article is about a public utility in New Mexico. For other uses, see PNM (disambiguation).

PNM is an electricity and natural gas utility serving the state of New Mexico in the United States. Headquartered in Albuquerque, it provides electricity to 413,000 customers in the urbanized or semi-urbanized areas in the northern half of the state. Elsewhere, rural electric cooperatives provide much of the power. The company provides natural gas to most of its electric customers as well as customers in southern New Mexico, many of whom receive electricity from Texas-New Mexico Power. PNM’s gas customers number 471,000. PNM maintains approximately 2000 miles of gas transmission pipeline, approximately 10,000 miles of gas distribution pipelines, 2,282 miles of electric transmission lines, and 7,594 electric distribution lines. PNM is a significant owner of the San Juan generation facility, a coal fired plant located near Farmington, New Mexico, and a 10% owner in the Palo Alto Nuclear Generating Facility near Phoenix, AZ. PNM also owns and operates several natural gas fired plants throughout the state of New Mexico including Reeves Generating Station in Albuquerque, most of which are used to meet additional demand for electricity in the summer months. PNM employs approximately 2,700 people and has been noted as one of the top companies in the United States for minorities to work for.

PNM was originally founded in 1917 as the Albuquerque Gas and Electric Company. PNM sold the gas part of the business to Southern Union Gas Company of Dallas in 1949. These sold portions became the Gas Company of New Mexico. In 1985, however, PNM reacquired the Gas Company of New Mexico after Southern Union Gas Company reached a settlement stemming from federal anti-trust litigation. In 1994, both electric and gas operations began serving customers as PNM.

The company is a wholly owned subsidiary of PNM Resources, an energy holding company in Albuquerque. Incidentally, PNM Resources also owns Texas-New Mexico Power, but customers of the sister companies will continue to pay two separate bills until 2007.

PNM officers

CEO Jeff Sterba

Alice Cobb: Chief Administrative Officer

Charles Eldred: Chief Financial Officer