Related Party Transactions

6 Months Ended

Jun. 30, 2020

Related Party TransactionsPNMR, PNM, TNMP, and NMRD are considered related parties as defined under GAAP, as is PNMR Services Company, a wholly-owned subsidiary of PNMR that provides corporate services to PNMR and its subsidiaries in accordance with shared services agreements. These services are billed at cost on a monthly basis to the business units. In addition, PNMR provides construction and operations and maintenance services to NMRD, a 50% owned subsidiary of PNMR Development. PNM purchases renewable energy from certain NMRD-owned facilities at a fixed price per MWh of energy produced. PNM also provides interconnection services to PNMR Development and NMRD. See Note 16 for additional discussion of NMRD.

The table below summarizes the nature and amount of related party transactions of PNMR, PNM, TNMP, and NMRD:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
	(In thousands)
Services billings:
PNMR to PNM	$	24,521	$	22,925	$	46,644	$	49,751
PNMR to TNMP	9,703		8,385		18,430		18,443
PNM to TNMP	113		114		189		189
TNMP to PNMR	35		36		70		71

PNMR to NMRD	49		54		125		95
Renewable energy purchases:
PNM from NMRD	2,404		949		3,923		1,574
Interconnection billings:
PNM to NMRD	130		—		350		—
PNM to PNMR	—		—		—		—
Interest billings:
PNMR to PNM	6		972		6		1,905
PNM to PNMR	77		77		158		149
PNMR to TNMP	1		10		2		42
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—