Related Party Transactions

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
	(In thousands)
Services billings:
PNMR to PNM	$	24,204	$	22,853	$	70,848	$	72,604
PNMR to TNMP	9,645		8,639		28,075		27,082
PNM to TNMP	106		97		295		286
TNMP to PNMR	35		35		106		106

PNMR to NMRD	74		68		199		163
Renewable energy purchases:
PNM from NMRD	3,723		757		7,646		2,331
Interconnection billings:
PNM to NMRD	—		—		350		—
PNM to PNMR	—		—		—		—
Interest billings:
PNMR to PNM	—		1,004		6		2,909
PNM to PNMR	60		75		218		224
PNMR to TNMP	—		—		2		42
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—