PNM asks for rate decision instead of delay

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Market Price (8/29/2016): $32.21/share; ST-Target: $42/share; NIV: $68/share

  • NM PRC requested, i.e., asked, PNM to allow the PRC to postpone the rate decision to December 15, 2016
  • The NM PRC ordered PNM to respond to its request by 3PM-MT on Monday, August 29, 2016
  • PNM responded today by asking the NM PRC to render its decision on the pending rate case instead of agreeing to the delay
  • No change in 2016 AEPS guidance of $1.55-$1.65; we have no change in our estimates either at this time

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