Related Party Transactions

9 Months Ended

Sep. 30, 2022

Related Party TransactionsPNMR, 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				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(In thousands)
Services billings:
PNMR to PNM	$	26,281	$	23,617	$	82,352	$	75,992
PNMR to TNMP	9,554		9,187		30,110		29,687
PNM to TNMP	107		107		322		319
TNMP to PNMR	35		—		106		24

PNMR to NMRD	81		55		226		165
Renewable energy purchases:
PNM from NMRD	3,221		3,384		9,642		9,473
Interconnection and facility study billings:
PNM to NMRD	—		225		—		225
PNM to PNMR	—		—		—		—
NMRD to PNM	—		—		—		1,276
Interest billings:
PNMR to PNM	4		—		13		—
PNM to PNMR	73		36		143		108
PNMR to TNMP	50		—		166		—
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—