(SeaPRwire) –   ALBUQUERQUE, N.M., May 29, 2026 — TNMP, the fully owned Texas subsidiary of TXNM Energy (NYSE: TXNM), has submitted a comprehensive settlement as part of its ongoing base rate review with the Public Utility Commission of Texas (PUCT). This settlement supports TNMP’s ability to continue powering Texas’s growth with a reliable, resilient electrical grid.

Per the settlement’s terms, TNMP will recoup its filed rate base of $2.8 billion as of June 30, 2025, while retaining the currently authorized 9.65% return on equity and 45% equity ratio. Higher operations and maintenance costs not recovered through interim capital recovery mechanisms, along with changes in deferred federal income tax amortizations, were partially offset by adjustments to depreciation rates.

Separate from the base rate request, the settlement allows TNMP to implement a $20.5 million rate rider to recover Hurricane Beryl restoration costs over a five-year period.

The settlement is subject to approval by the PUCT. Under interim rates, the final approved rates will be retroactive to May 22, 2026.

Parties joining the settlement include the Staff of the Public Utility Commission of Texas, Alliance of Texas-New Mexico Power Municipalities, Cities Served by Texas-New Mexico Power Company, Data Center Coalition, Hunt Energy Network, Joint Data Center Group, Office of Public Utility Counsel, Texas Competitive Power Advocates, Texas Industrial Energy Consumers, and Walmart. Amazon Data Systems and the Texas Energy Association for Marketers do not oppose the stipulation.

The settlement and related filings can be accessed at: https://www.txnmenergy.com/investors/rates-and-filings/tnmp-puct-filings.aspx.

About TXNM Energy:
TXNM Energy (NYSE: TXNM) is an energy holding company based in Albuquerque, New Mexico, delivering energy to over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company’s website at www.TXNMEnergy.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements in this news release related to TXNM Energy or TNMP (collectively referred to as the “Company”) that address future events, expectations, projections, estimates, intentions, goals, targets, or strategies—including unaudited financial results, earnings guidance, comments on the potential transaction between TXNM Energy and Blackstone Infrastructure (such as expected timelines for completion, ability to finalize the deal, and anticipated benefits), rate proceeding outcomes, expected advantages of the new transmission line project, and the projected timing of the IRP filing—are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based on current expectations and estimates and apply only as of the date of this release. TXNM and TNMP assume no obligation to update this information. Since actual results may differ materially from those expressed or implied by these forward-looking statements, TXNM and TNMP advise readers not to place undue reliance on them. TXNM’s and TNMP’s business, financial condition, cash flow, and operating results are influenced by many factors—often beyond their control—that can cause actual results to diverge from forward-looking statements. For a discussion of risk factors and other key considerations affecting these statements, refer to the Company’s Form 10-K, Form 10-Q filings, and Form 8-K submissions with the Securities and Exchange Commission, which are incorporated by reference herein. Risks and uncertainties related to the proposed Blackstone Infrastructure transaction include (but are not limited to): expected timing and likelihood of completion, including required governmental/regulatory approvals (which could reduce benefits or lead to abandonment); events or changes triggering transaction agreement termination (including TXNM Energy paying a termination fee); inability to meet transaction conditions on time or at all; outcomes of legal proceedings related to the transaction; management time disruption from ongoing operations; adverse effects on TXNM Energy’s ability to retain/hire staff, maintain customer/supplier relationships, or impact operating results; costs/fees from the transaction; and fluctuations in TXNM Energy’s common stock price (including significant declines if the transaction fails). Other unpredictable or unknown factors not discussed here could also have material adverse effects on forward-looking statements.

SOURCE TXNM Energy, Inc.