Related Party Transactions

3 Months Ended

Mar. 31, 2022

PNMR, PNM, TNMP, and NMRD are considered related parties, 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
	March 31,
		2022		2021
		(In thousands)
Services billings:
PNMR to PNM		$	27,693	$	26,225
PNMR to TNMP		10,304		10,365
PNM to TNMP		93		118
TNMP to PNMR		35		12

PNMR to NMRD		64		55
Renewable energy purchases:
PNM from NMRD		2,621		2,585
Interconnection and facility study billings:
PNM to NMRD		—		—
PNM to PNMR		—		—
NMRD to PNM		—		1,276
Interest billings:
PNMR to PNM		7		—
PNM to PNMR		23		36
PNMR to TNMP		45		—
Income tax sharing payments:
PNMR to PNM		—		—
TNMP to PNMR		—		—