Public Service Company Of New Mexico · OTC:PNMXO
Public Service Company Of New Mexico — Investor Presentation (December 2025)
20 slides from Public Service Company Of New Mexico's investor presentation, Dec 9, 2025
Slide 1: 2026 PNM IRP Facilitated Stakeholder Meeting
2026 PNM IRP Facilitated Stakeholder Meeting PNM Supporting Team DECEMBER 9, 2025 DECEMBER 9, 2025
Slide 2: Integrated Planning and Transmission Development Team
INTEGRATED PLANNING AND TRANSMISSION DEVELOPMENT TEAM LAURIE Integrated System Planning (ISP) provides a unified, cost-effective WILLIAMS planning approach to ensure PNM reliably and affordably meets future SVP Integrated Planning customer needs by coordinating investments across the optimal and Tra
Slide 3: Integrated Resource Planning Team
INTEGRATED RESOURCE PLANNING TEAM Shane Gutierrez George Nail TOM DUANE Monique Reiman Director Brian Vazquez Xiaofei Wang SLIDE 3 | December 9, 2025
Slide 4: Supporting Teams
SUPPORTING TEAMS Customer Solutions Alaric Babel Energy Efficiency and Demand Sharon James Response Adam Alvarez Regulatory Lisa Contreras Pricing Julio Aguirre Aslam Hayat (Manager) Load Forecasting Hector Dorbecker SLIDE 4 | December 9, 2025
Slide 5: Consulting Support
CONSULTING SUPPORT PowerGem (previously Astrape) Energy and Environmental Economics, Inc. (E3) – Nick Simmons, Nick Wintermantel, Chase Winkler, – Nick Schlag, Ben Elsey, Sierra Spencer Cole Benson Report and advisory support Reliability analysis (ELCC and PRM modeling inputs, portfolio reliability
Slide 6: Integrated Planning
Integrated Planning DECEMBER 9, 2025
Slide 7: Traditional Utility Planning
THE SYSTEM OF THE PAST Each utility independently solved for its own Historically, utility planning for generation, load and resource needs distribution and transmission was done with limited overlap between these areas of business Generation: • Electrical industry infrastructure was master planned
Slide 8: Drivers Creating Need for Change
DRIVERS CREATING NEED FOR CHANGE Transition to Clean Energy • Climate change driving state and federal policy changes for decarbonization Increasing System Demand • Move to smaller, distributed, and variable • Economic development centered around output resources energy transition in NM • Commercial
Slide 9: Benefits of Integrated Planning
BENEFITS OF INTEGRATED PLANNING PNM’s planning groups have been consolidated under one operational function to take advantage of these benefits PNM is one of only a few companies that have consolidated planning and is on the leading edge due to advanced progress to carbon free Distribution Criti
Slide 10: PNM's Journey to Carbon Free
PNM’S JOURNEY TO CARBON FREE PNM’s energy production will be comprised of 71% zero carbon in 2026, and about 78% in 2028. SLIDE 10 | December 9, 2025
Slide 11: 2026 IRP Vision: Challenges and Opportunities
2026 IRP Vision: Challenges and Opportunities DECEMBER 9, 2025
Slide 12: Balance Is the Key
BALANCE IS THE KEY • Reliability is non-negotiable • Dispatchable capacity is critical to grid reliability • PNM is over 70% carbon-free today and is continuing to add renewables and storage – however the final 30% is most difficult and costly • ETA in condensed period will challenge customer afford
Slide 13: Utility Challenges and Opportunities/Mitigations
UTILITY CHALLENGES AND OPPORTUNITIES/MITIGATIONS Resilient Extreme Events Design Transmission Economic Transmission Customer Costs Development Expansion Congestion Challenges Opportunities Pace of Regional Unprecedented Emergent Bridge Markets and Demand Technology Solutions Storage Development Agin
Slide 14: IRP Long Term Vision
IRP LONG TERM VISION ISP 2029 ISP 2026 IRP Optimizing supply, 2023 IRP demand, Optimizing supply, transmission & demand & customer solutions Balancing supply transmission with demand with limited transmission SLIDE 14 | December 9, 2025
Slide 15: IRP Action Plan Updates and Resource Additions
IRP Action Plan Updates and Resource Additions DECEMBER 9, 2025
Slide 16: 2023 IRP Action Plan Activities
2023 IRP ACTION PLAN ACTIVITIES 1. Issue an all-source RFP for resources coming online between 2029 and 2032 RFP Issued in December, shortlisted bids were refreshed over summer due to tax law changes. Phase 3 evaluation is nearing completion 2. Issue an RFI/RFP for long lead time resources or ne
Slide 17: Status of Approved Resource Additions
STATUS OF APPROVED RESOURCE ADDITIONS 2026 Resource Filing 2028 Resource Filing 100 MW/100 MW Solar/BESS (Feb 2026) 150 MW BESS (Jan 2028) 60 MW BESS (April 2026) 167 MW Gas (replaces expiring PPA) 100 MW BESS (Complete) 100 MW/50 MW Solar/BESS (May 2027) 50 MW BESS (Complete) 150 MW BESS (Dec 2027)
Slide 18: Pending Resource & Transmission Filings
PENDING RESOURCE & TRANSMISSION FILINGS • Case filed in June for Windy Lane PPA and ESA, Star Light PPA and ESA, Four Mile Mesa PPA and ESA Rate 36B Customer Resource Filing • Discovery completed pending PRC approval • On November 14, the Hearing Examiner provided a recommendation to approve PNM’s a
Slide 19: PNM's 2026 IRP Enhancements
PNM’S 2026 IRP ENHANCEMENTS FOR THIS IRP New DR Program Options based on Updated AMI potential to enable other distribution and customer-based Potential Study solutions Enhance insight on locational placement of resources Transmission – Factor in Retail and Non-Retail Evaluate potential value of imp
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Public Service Company of New Mexico (PNM) — Investor Presentation (December 2025) on 6ix