---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-25-000040"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2025-05-15T23:59:59+00:00"
generated_at: "2026-05-21T04:29:44.303557+00:00"
event_type: "regulatory"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PNM and TNMP receive rate approvals; PNM $105M revenue increase, TNMP $25M annual increase

## Summary
- PNM's $105.0M revenue requirement increase approved by NMPRC, based on 9.45% ROE and 51% equity on $3.0B rate base.
- 50% of PNM rate increase effective July 1, 2025; remaining 50% effective April 1, 2026.
- TNMP receives PUCT approval for $25.0M annual distribution cost recovery increase, reflecting $176.6M incremental rate base at 9.65% ROE.
- TNMP's new rates will become effective in approximately 45 days.
- Prior PNM ROE was 9.26% on 50% equity; new structure improves regulated returns.

## SEC filing metadata
- accession: 0001108426-25-000040
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2025-05-15T23:59:59+00:00
- event_type: regulatory
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842625000040/0001108426-25-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81023/000110842625000040/pnm-20250515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-25-000040
- JSON: https://secwatch.observer/filing/0001108426-25-000040.json
- Plain text: https://secwatch.observer/filing/0001108426-25-000040.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.