8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)	July 1, 2019
	(July 1, 2019)

Commission	Name of Registrants, State of Incorporation,	I.R.S. Employer
File Number	Address Of Principal Executive Offices and Telephone Number	Identification No.
001-32462	PNM Resources, Inc.	85-0468296
	(A New Mexico Corporation)
	414 Silver Ave. SW
	Albuquerque, New Mexico 87102-3289
	(505) 241-2700
001-06986	Public Service Company of New Mexico	85-0019030
	(A New Mexico Corporation)
	414 Silver Ave. SW
	Albuquerque, New Mexico 87102-3289
	(505) 241-2700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 40.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 40.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Registrant	Title of each class	Trading Symbol(s)	Name of exchange on which registered
PNM Resources, Inc.	Common Stock, no par value	PNM	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01 Regulation FD Disclosure.

As previously reported on PNM Resources, Inc.’s (“PNMR”) Current Reports on Form 8-K filed with the Securities Exchange Commission on January 31, 2019 and January 2, 2019, on December 31, 2018, PNMR’s wholly-owned subsidiary, Public Service Company of New Mexico (“PNM”) submitted a filing to the New Mexico Public Regulation Commission (“NMPRC”) indicating that PNM expects to retire its share of San Juan Generating Station (“SJGS”) in mid-2022 (subject to NMPRC approval). In its December 31, 2018 filing, PNM indicated that it would have sufficient information by the second quarter of 2019 to submit a consolidated filing to the NMPRC requesting approval for the abandonment of PNM’s share of SJGS and for replacement generation capacity.

On July 1, 2019, PNM filed a consolidated application with the NMPRC requesting approval for the abandonment of SJGS, for procurement of proposed replacement generation resources, and for the authority to issue approximately $361 million of “energy transition bonds” (the “Application”). Under New Mexico state law, energy transition bonds are designed to be highly rated, are secured by “energy transition property,” are non-recourse to the issuing utility, and must be repaid by a non-bypassable charge paid by all PNM customers. These customer charges are subject to an adjustment mechanism designed to provide for timely and complete payment of principal and interest due under the energy transition bonds.

The Application can be found on PNMR’s website (http://www.pnmresources.com/investors/rates-and-filings.aspx). Additional information related to the application has been posted on PNMR’s website at (http://www.pnmresources.com/investors/events-and-presentations.aspx). The contents of these websites are not otherwise incorporated into this Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific references in such a filing.

Item 8.01 Other Events.

The first two paragraphs of Item 7.01 above are incorporated into this Item 8.01.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Press Release, dated July 1, 2019 (furnished not filed)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

PNM RESOURCES, INC.

PUBLIC SERVICE COMPANY OF NEW MEXICO

(Registrants)

Date: July 1, 2019             /s/ Joseph D. Tarry        

Joseph D. Tarry

Vice President, Controller and Treasurer

(Officer duly authorized to sign this report)

EX-99.1

Exhibit 99.1

For Immediate Release

July 1, 2019

PNM Files Consolidated Application for San Juan Generating Station

Application Requests Approval of Abandonment, Securitization and Replacement Power

(ALBUQUERQUE, N.M.)– PNM, the wholly-owned New Mexico utility subsidiary of PNM Resources, Inc. (NYSE: PNM), today filed with the New Mexico Public Regulation Commission (NMPRC) a consolidated application requesting the abandonment of the San Juan Generating Station (San Juan), securitization of the unrecovered investment in the plant and approvals for replacement power resources.

The application proposes the abandonment of San Juan in June 2022 upon the expiration of the participation and coal supply agreements. The application also requests securitization treatment along with approvals for replacement power under a recommended scenario consistent with the New Mexico Energy Transition Act legislation. If approved, this scenario results in average customer savings of $7.11 per month in 2023 compared to the continued operation of San Juan.

PNM evaluated replacement power scenarios in the filing and considered the resulting costs to customers, reduction to carbon emissions and risks to reliability. The recommended scenario for replacement power results in the lowest cost to customers and achieves significant reductions to carbon emissions, meets reliability standards and brings significant investment to New Mexico. This scenario includes the following resources:

• 280 megawatts of natural gas-fired peaking units at San Juan,

• 350 megawatts of solar capacity, and

• 130 megawatts of battery storage capacity.

“Each step we take toward 100% emissions-free must balance the cost, the environment, and reliability,” said Pat Vincent-Collawn, PNM Resources chairman, president and CEO. “The San Juan replacement plan we put forth will not only save customers money but will have one of the largest solar facilities in the U.S. and one of the highest percentages of battery storage anywhere in the country.”

Certain financial information reflecting the impact of the consolidated application, if it were to be approved by the NMPRC, to previously disclosed investment plans and potential earnings power can be found at: http://www.pnmresources.com/investors/events-and-presentations.aspx. The application can be found at: http://www.pnmresources.com/investors/rates-and-filings.aspx. PNM requested an NMPRC decision on the consolidated application by the end of 2019.

Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2018 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,671 megawatts of generation capacity and provides electricity to more than 781,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.

CONTACTS:

Analysts                            Media

Lisa Goodman                            Ray Sandoval

(505) 241-2160                        (505) 241-2782

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PNM Files Application for San Juan         7-1-2019                        p. 2 of 2

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements made in this news release for PNM Resources, Inc. (“PNMR”) and Public Service Company of New Mexico (“PNM”) (collectively, the “Company”) that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR and PNM assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR and PNM caution readers not to place undue reliance on these statements. PNMR's and PNM's, business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

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