PNM Electric Rate Recommended Decision Delayed

PNM Resources (NYSE: PNM) was informed today that the recommended decision by a N.M. Public Regulation Commission hearing examiner regarding the pending PNM electric rate case will be delayed.

Chuck Eldred, PNM Resources executive vice president and CFO, said that although the timing of the decision is not known, the company anticipates the recommended decision within the next couple of weeks.

Once issued, the decision will be posted at www.pnmresources.com/investors/regulatory.cfm.

Even with the delay, commissioners are expected to issue their order regarding the rate case by May 7.

Background

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2007 consolidated operating revenues from continuing and discontinued operations of $2.4 billion. Through its utility and energy subsidiaries, PNM Resources serves electricity to approximately 835,000 homes and businesses in New Mexico and Texas and natural gas to nearly 492,000 customers in New Mexico. Its utility subsidiaries are PNM and Texas-New Mexico Power. Another subsidiary is First Choice Power, a deregulated competitive retail electric provider in Texas. With generation resources of more than 2,650 megawatts, PNM Resources and its subsidiaries market power throughout the Southwest, Texas and the West. In addition, the joint venture in which the company has a 50-percent ownership owns approximately 920 megawatts of generation. For more information, visit www.PNMResources.com.