Related Party Transactions

9 Months Ended

Sep. 30, 2018

PNMR, 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 (Note 1), and 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 (Note 9) and NMRD.

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



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
	(In thousands)
Services billings:
PNMR to PNM	$	22,972	$	23,451	$	69,122	$	71,044
PNMR to TNMP	8,074		7,828		24,497		23,771
PNM to TNMP	104		115		281		302
TNMP to PNMR	35		35		105		106
TNMP to PNM	—		8		—		154
PNMR to NMRD	32		—		162		—
Renewable energy purchases:
PNM from NMRD	969		—		2,343		—
Interconnection billings:
PNM to NMRD	47		—		2,099		—
PNM to PNMR	—		—		68,200		—
Interest billings:
PNMR to PNM	844		3		1,653		14
PNM to PNMR	75		71		211		163
PNMR to TNMP	65		66		87		126
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—