ALBUQUERQUE, N.M.,
Aug. 29,
2024 /PRNewswire/ -- TNMP, the Texas subsidiary of TXNM Energy, Inc. (NYSE:
TXNM), filed its first System Resiliency Plan (SRP) with the Public
Utility Commission of Texas (PUCT)
designed to benefit customers through enhanced resiliency of its
distribution system.
The filed plan includes measures totaling $600 million of capital investments and
$151 million of other related costs
over 3 years and was developed using a comprehensive and
data-driven approach which evaluated various types of resiliency
events posing material risk to the safe and reliable operation of
TNMP's distribution system.
"Service to our customers is paramount and TNMP has been
consistently increasing investments in system hardening and
modernization to strengthen our service to customers," said
Pat Vincent-Collawn, TXNM Energy
Chairman and CEO. "This filing demonstrates TNMP's continued
commitment to ensuring the reliability and resiliency of our
infrastructure during high-risk events across each diverse region
of our service territory."
TNMP's service territory includes non-contiguous areas across
different regions of Texas,
ranging from small communities and rural areas to communities
around large metropolitan areas, each with unique risks.
Investments in the SRP are prioritized based on customer benefit,
physical protection of infrastructure, foundational investments in
operational and cybersecurity technologies, wildfire risk reduction
and a focus on lower-performing areas.
Eight different Resiliency Measures are outlined in the SRP with
associated programs and infrastructure impacts to improve the
system's ability to prevent, withstand, mitigate and/or more
promptly recover from resiliency events: Distribution System
Resiliency, Distribution System Protection Modernization,
Vegetation Management, Wildfire Mitigation, Flood Mitigation,
Enhanced Operations System Technology, Cybersecurity and
Physical Security Resiliency.
The SRP is subject to PUCT approval over 180 days as stated in
Texas legislation. Recovery of
investments and costs are permissible primarily through semi-annual
Distribution Cost Recovery Factor filings, with deferral of
depreciation and other certain expenses until recovery begins. The
filing can be found at
https://www.txnmenergy.com/investors/rates-and-filings/tnmp-puct-filings.aspx.
Background:
TXNM Energy (NYSE: TXNM), an energy
holding company based in Albuquerque,
N.M., delivers energy to more than 800,000 homes and
businesses across Texas and
New Mexico through its regulated
utilities, TNMP and PNM. For more information, visit the company's
website at www.TXNMEnergy.com.
CONTACTS:
|
|
Analysts
|
Media
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Lisa Goodman
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Corporate
Communications
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(505) 241-2160
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(505)
241-27838
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Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Statements made in this news release for
TXNM Energy, Inc. ("TXNM"), Public Service Company of New Mexico ("PNM"), or Texas-New Mexico Power
Company ("TNMP") (collectively, the "Company") that relate to
future events or expectations, projections, estimates, intentions,
goals, targets, and strategies, including the unaudited financial
results and earnings guidance, are made pursuant to the Private
Securities Litigation Reform Act of 1995. Readers are cautioned
that all forward-looking statements are based upon current
expectations and estimates and apply only as of the date of this
report. TXNM, PNM, and TNMP assume no obligation to update this
information. Because actual results may differ materially from
those expressed or implied by these forward-looking statements,
TXNM, PNM, and TNMP caution readers not to place undue reliance on
these statements. TXNM's, PNM's, and TNMP's business, financial
condition, cash flow, and operating results are influenced by many
factors, which are often beyond their control, that can cause
actual results to differ from those expressed or implied by the
forward-looking statements. For a discussion of risk factors and
other important factors affecting forward-looking statements,
please see the Company's Form 10-K, Form 10-Q filings and the
information included in the Company's Forms 8-K with the Securities
and Exchange Commission, which factors are specifically
incorporated by reference herein.
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SOURCE TXNM Energy, Inc.