PNM rate case decision may be postponed past legal timeline but it may be a good thing

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Market Price (8/26/2016): $31.89/share; ST-Target: $42/share; NIV: $68/share

  • By law, regulators are not allowed to postpone the final decision on PNM’s 2016 GRC past September 30, 2016 for an October 1, 2016 implementation
  • However, the NM PRC is requesting, i.e., asking, PNM to allow the PSC to postpone the rate decision to December 15, 2016
  • The NM PRC is ordering PNM to respond to its request by 3PM-MT on Monday, August 29, 2016
  • At first, we had suspected that November elections may be the reason for the postponement, since three seats on the NM PRC are up for election; however, is not the case

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