PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2006 consolidated operating revenues of $2.5 billion. Through its utility and energy subsidiaries, PNM Resources serves electricity to more than 835,000 homes and businesses in New Mexico and Texas and natural gas to more than 492,000 customers in New Mexico. Its utility subsidiaries are PNM and Texas-New Mexico Power. Other subsidiaries include First Choice Power, a deregulated competitive retail electric provider in Texas, and Avistar, an unregulated energy technology company. With generation resources of more than 2,465 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 300 megawatts of generation.
“The unique challenge of climate change is that it requires action now on a problem that will affect our grandchildren far more than it will affect us,” said Jeff Sterba, chairman, president and CEO of PNM Resources. “With the right framework, we can address this problem and even create unique opportunities within our society. I believe the USCAP approach is the right approach.” http://www.pnm.com/environment/
- By 2009, PNM Resources will emit 7 percent less carbon dioxide, or its equivalents, per megawatt hour than it did in 2002.