| Formerly | PNM Resources, Inc. |
|---|---|
| Company type | Public |
| Headquarters | Albuquerque, New Mexico, U.S. |
Number of employees | over 1,600 (2023) |
| Website | www |
TXNM Energy, Inc. (formerlyPNM Resources) is an energy holding company based inAlbuquerque, New Mexico. TXNM was founded in 1917 as the Albuquerque Gas and Electric Company. TXNM Energy owns both PNM and Texas - New Mexico Power (TNMP)
Headquartered inAlbuquerque, TXNM Energy has a diverse energy portfolio and combined with their purchased power resources contribute to a total generation capacity of approximately 2.7 gigawatts and serves electricity to 800,000 residential and business customers across New Mexico andTexas.[1]
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Texas-New Mexico Power is a corporation that is wholly owned by TXNM Energy. It is a regulated electric utility operating in Texas. TNMP was sold in a leveraged buyout in 2000.[2] TXNM acquired Texas—New Mexico Power in 2005 and moved the New Mexico properties to TXNM in 2006.[3] TNMP is headquartered inLewisville, Texas.
TXNM was founded in 1917 as the Albuquerque Gas and Electric Company. TXNM sold the gas part of the business toSouthern 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 antitrust litigation. In 1994, both electric and gas operations began serving customers as PNM.
In May 2003, TXNM Energy' utility subsidiary, PNM, was recognized by the American Wind Energy Association's Utility Leadership Award for PNM's role in the creation of the New Mexico Wind Energy Center. The award was presented at the National Wind Energy Conference in Austin, Texas.[4]
In 2008, PNM sold New Mexico Gas to Continental Energy, a company backed by the private equity firmLindsay Goldberg. It was later acquired byTECO Energy.[5] It will soon become a division ofHalifax,Canada-basedEmera when its acquisition of TECO Energy closes by mid-2016.[6]
On October 21, 2020, the company announced a strategic merger withAvangrid, a subsidiary ofIberdrola.[7][8]
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