EXHIBIT 23.1


INDEPENDENT AUDITORS' CONSENT


We consent to the  incorporation  by reference in  Registration  Statement  Nos.
333-10993  and  333-100186  of PNM  Resources,  Inc.  on Form S-3;  Registration
Statement Nos. 333-03303,  333-03289, 333-61598, 333-76316, 333-76288, 333-88372
and 333-100184 of PNM  Resources,  Inc. on Form S-8 of our report dated February
11, 2003,  appearing in this Annual Report on Form 10-K of PNM  Resources,  Inc.
for the year ended December 31, 2002.


DELOITTE & TOUCHE LLP


Omaha, Nebraska
March 17, 2003