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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtTypeAxis" xlink:label="loc_us-gaap_ShortTermDebtTypeAxis_BA5BF7B7A480712D30520A23713C9EF3" xlink:type="locator" />
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    <link:label id="lab_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsThroughFifteenYearsFairValue_35D6E063BE4CBEBD0C87EB6A3A2DE38C_terseLabel_en-US" xlink:label="lab_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsThroughFifteenYearsFairValue_35D6E063BE4CBEBD0C87EB6A3A2DE38C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">After 10 years through 15 years</link:label>
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    <link:label id="lab_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenYearsThroughTwentyYearsFairValue_5C8BA98267588ADF1790EB6A3A2D28B2_terseLabel_en-US" xlink:label="lab_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenYearsThroughTwentyYearsFairValue_5C8BA98267588ADF1790EB6A3A2D28B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">After 15 years through 20 years</link:label>
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    <link:label id="lab_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue_B33CFDA427ADA96ACB58EB6A3A2D012F_terseLabel_en-US" xlink:label="lab_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue_B33CFDA427ADA96ACB58EB6A3A2D012F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">After 20 years</link:label>
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_34F345B5F384D298B74EEB6A3A2D64C8_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_34F345B5F384D298B74EEB6A3A2D64C8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Available-for-sale debt securities</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesReasonableCostThreshold_0C80CFA3A18D7BA699781996B1620A1A_label_en-US" xlink:label="lab_pnm_PublicUtilitiesReasonableCostThreshold_0C80CFA3A18D7BA699781996B1620A1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Reasonable Cost Threshold</link:label>
    <link:label id="lab_pnm_PublicUtilitiesReasonableCostThreshold_0C80CFA3A18D7BA699781996B1620A1A_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesReasonableCostThreshold_0C80CFA3A18D7BA699781996B1620A1A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reasonable Cost Threshold</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNumberofMegaWattsofSolarPhotovoltaicCapacityCurrentOutput" xlink:label="loc_pnm_PublicUtilitiesNumberofMegaWattsofSolarPhotovoltaicCapacityCurrentOutput_CA62DAABA2799530B9E91996B162A3C7" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesNumberofMegaWattHoursofWindGeneration_5175A065D5F90E6268491996B1629D59_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberofMegaWattHoursofWindGeneration_5175A065D5F90E6268491996B1629D59" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Number of Mega Watt Hours of Wind Generation</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNumberofMegaWattHoursofWindGeneration" xlink:label="loc_pnm_PublicUtilitiesNumberofMegaWattHoursofWindGeneration_5175A065D5F90E6268491996B1629D59" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesWindCapacityPlannedPurchaseAgreementTerm_7A0C061A3A92C6AFE84B1996B1623F07_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesWindCapacityPlannedPurchaseAgreementTerm_7A0C061A3A92C6AFE84B1996B1623F07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wind capacity, planned purchase agreement, term</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesWindCapacityPlannedPurchaseAgreementTerm" xlink:label="loc_pnm_PublicUtilitiesWindCapacityPlannedPurchaseAgreementTerm_7A0C061A3A92C6AFE84B1996B1623F07" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wind energy capacity (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Number of Mega Watts of Wind Energy Capacity</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Number of Mega Watts of Wind Energy Capacity</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity" xlink:label="loc_pnm_PublicUtilitiesNumberofMegaWattsofWindEnergyCapacity_2C7571789C8D6C8BE8831996B1621FC8" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesRiderConditionOfEarnedReturnOnJurisdictionalEquityIn2013_89BD2E038C4B20620B221996B1621EEB_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRiderConditionOfEarnedReturnOnJurisdictionalEquityIn2013_89BD2E038C4B20620B221996B1621EEB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rider condition of earned return on jurisdictional equity in 2013</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesRevenuefromRenewableenergyrider_84F685A141CBE37BF70B1996B162EB35_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRevenuefromRenewableenergyrider_84F685A141CBE37BF70B1996B162EB35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from renewable energy rider</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesAnnualRevenueTobeCollectedUnder2015RiderRate_62B6EA4F5A0A0AAAFF981996B162F53C_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualRevenueTobeCollectedUnder2015RiderRate_62B6EA4F5A0A0AAAFF981996B162F53C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Annual Revenue To be Collected Under 2015 Rider Rate</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAnnualRevenueTobeCollectedUnder2015RiderRate_62B6EA4F5A0A0AAAFF981996B162F53C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualRevenueTobeCollectedUnder2015RiderRate_62B6EA4F5A0A0AAAFF981996B162F53C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Annual Revenue To be Collected Under 2015 Rider Rate</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAnnualRevenueTobeCollectedUnder2015RiderRate" xlink:label="loc_pnm_PublicUtilitiesAnnualRevenueTobeCollectedUnder2015RiderRate_62B6EA4F5A0A0AAAFF981996B162F53C" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Program costs related to energy efficiency</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC_label_en-US" xlink:label="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Program Costs Related To Energy Efficiency</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Program Costs Related To Energy Efficiency</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency" xlink:label="loc_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC" xlink:to="lab_pnm_PublicUtilitiesProgramCostsRelatedToEnergyEfficiency_111B3660670D7268723A1996B162FCBC" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Authorization to recover an incentive equal to a percentage of annual program costs</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3_label_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Profit Incentive Adder Revenues Related To Energy Efficiency Program, Percentage of Program Costs</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Profit Incentive Adder Revenues Related To Energy Efficiency Program, Percentage of Program Costs</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts" xlink:label="loc_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3" xlink:to="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgramPercentageofProgramCosts_2C527C00FBA101D3D65C1996B1628EF3" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual incentive</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259_label_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Profit Incentive Adder Revenues Related To Energy Efficiency Program</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Profit Incentive Adder Revenues Related To Energy Efficiency Program</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram" xlink:label="loc_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259" xlink:to="lab_pnm_PublicUtilitiesApprovedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_D2F3699D757A9190180D1996B1620259" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proposed energy efficiency incentive</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE_label_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed Profit Incentive Adder Revenues Related To Energy Efficiency Program</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed Profit Incentive Adder Revenues Related To Energy Efficiency Program</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram" xlink:label="loc_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE" xlink:to="lab_pnm_PublicUtilitiesProposedProfitIncentiveAdderRevenuesRelatedToEnergyEfficiencyProgram_45999838E290A86082021996B16287CE" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Anticipated future profit incentive 2015</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Anticipated future profit incentive 2015</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Anticipated future profit incentive 2015</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015" xlink:label="loc_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7" xlink:to="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2015_5006EA015309DA7A39AE1996B16235A7" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Anticipated future profit incentive 2016</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Anticipated future profit incentive 2016</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Anticipated future profit incentive 2016</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016" xlink:label="loc_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB" xlink:to="lab_pnm_PublicUtilitiesAnticipatedfutureprofitincentive2016_743519F0B0C295F097251996B1620DCB" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retention percentage of sales margins</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721_label_en-US" xlink:label="lab_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Retention Percentage of Sales Margins</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Retention Percentage of Sales Margins</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesRetentionPercentageOfSalesMargins" xlink:label="loc_pnm_PublicUtilitiesRetentionPercentageOfSalesMargins_587186BD1B8C0BCC51E41996B1628721" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Under-collected balance write-off</link:label>
    <link:label id="lab_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D_label_en-US" xlink:label="lab_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Under-collected balance write-off</link:label>
    <link:label id="lab_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Under-collected balance write-off</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesUndercollectedbalancewriteoff" xlink:label="loc_pnm_PublicUtilitiesUndercollectedbalancewriteoff_B5FAA484A22D4FB7E8C81996B162A52D" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Public Utilities, Under-collected balance to be collected</link:label>
    <link:label id="lab_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485_label_en-US" xlink:label="lab_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Under-collected balance to be collected</link:label>
    <link:label id="lab_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Under-collected balance to be collected</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesUndercollectedbalancetobecollected" xlink:label="loc_pnm_PublicUtilitiesUndercollectedbalancetobecollected_A5892C11EB58323571CF1996B1621485" xlink:type="locator" />
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    <link:label id="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7_terseLabel_en-US" xlink:label="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of time to collect</link:label>
    <link:label id="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7_label_en-US" xlink:label="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of time to collect</link:label>
    <link:label id="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7_documentation_en-US" xlink:label="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period of time to collect</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Periodoftimetocollect" xlink:label="loc_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7" xlink:to="lab_pnm_Periodoftimetocollect_A7563A228CB2ECE417881996B16271D7" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Planning period covered, IRP</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16_label_en-US" xlink:label="lab_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Planning Period Covered of IRP</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Planning Period Covered of IRP</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp" xlink:label="loc_pnm_PublicUtilitiesPlanningPeriodCoveredOfIrp_1CC9FBF6A54F9D73D2CF1996B162DB16" xlink:type="locator" />
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    <link:label id="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34_terseLabel_en-US" xlink:label="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of time to file a waiver of rights of first refusal</link:label>
    <link:label id="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34_label_en-US" xlink:label="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of time to file a waiver of rights of first refusal</link:label>
    <link:label id="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34_documentation_en-US" xlink:label="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period of time to file a waiver of rights of first refusal</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Periodoftimetofileawaiverofrightsoffirstrefusal" xlink:label="loc_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34" xlink:to="lab_pnm_Periodoftimetofileawaiverofrightsoffirstrefusal_7A2374A9CD2E4DB0012E1996B1628B34" xlink:type="arc" />
    <link:label id="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Approved rate increase (decrease)</link:label>
    <link:label id="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Rate Increase (Decrease), Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount" xlink:label="loc_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D" xlink:to="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_67A97CD9FD51002A711E1996B162F76D" xlink:type="arc" />
    <link:label id="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Approved return on equity</link:label>
    <link:label id="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Return on Equity, Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage" xlink:label="loc_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4" xlink:to="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_A8EB1C00ED1E464308AF1996B162B5D4" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increased annual transmission service revenue</link:label>
    <link:label id="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46_label_en-US" xlink:label="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Increase Annual Transmission Service Revenue</link:label>
    <link:label id="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Increase Annual Transmission Service Revenue</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue" xlink:label="loc_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46" xlink:to="lab_pnm_PublicUtilitiesIncreaseAnnualTransmissionServiceRevenue_82923AF9DD4E55E68F6F1996B1625C46" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Newly-identified replacement gas plant (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Newly Identified Replacement Gas-fired Generation, in Megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Newly Identified Replacement Gas-fired Generation, in Megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts" xlink:label="loc_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C" xlink:to="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawatts_DD87B222661A78B2B4141996B162FF1C" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of replacement gas-generation</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403_label_en-US" xlink:label="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Cost of replacement gas-generation</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Cost of replacement gas-generation</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesCostofreplacementgasgeneration" xlink:label="loc_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403" xlink:to="lab_pnm_PublicUtilitiesCostofreplacementgasgeneration_FA45B757B58A2626D0C81996B1621403" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease ownership in EIP</link:label>
    <link:label id="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A_label_en-US" xlink:label="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Lease ownership percentage in EIP</link:label>
    <link:label id="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Lease ownership percentage in EIP</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesLeaseOwnershipPercentageInEip" xlink:label="loc_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A" xlink:to="lab_pnm_PublicUtilitiesLeaseOwnershipPercentageInEip_B909CBD5123BE033DFAD1996B162342A" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return on equity</link:label>
    <link:label id="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E_label_en-US" xlink:label="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Return on Equity</link:label>
    <link:label id="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Return on Equity</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesReturnonEquity" xlink:label="loc_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E" xlink:to="lab_pnm_PublicUtilitiesReturnonEquity_045F03AE2E133D29BBD01996B162717E" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Approved additional rate increase</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3_label_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved additional rate increase, Amount</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved additional rate increase, Amount</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount" xlink:label="loc_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3" xlink:to="lab_pnm_PublicUtilitiesApprovedadditionalrateincreaseAmount_A991FA0688AF1DFDF6D91996B162DCE3" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contract extension</link:label>
    <link:label id="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895_label_en-US" xlink:label="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Contract Extension</link:label>
    <link:label id="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Contract Extension</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesContractExtension" xlink:label="loc_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895" xlink:to="lab_pnm_PublicUtilitiesContractExtension_EB43FBB0311908BC67161996B1624895" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average monthly usage (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Average monthly usage in megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Average monthly usage in megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAveragemonthlyusageinmegawatts" xlink:label="loc_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC" xlink:to="lab_pnm_PublicUtilitiesAveragemonthlyusageinmegawatts_59DE16989C4882B1C0131996B162C2EC" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue for power sold under specific contract</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249_label_en-US" xlink:label="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Revenue For Power Sold Under Specific Contract</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Revenue For Power Sold Under Specific Contract</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract" xlink:label="loc_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249" xlink:to="lab_pnm_PublicUtilitiesRevenueForPowerSoldUnderSpecificContract_00F6CA6B87C8051DC30E1996B162B249" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Public Utilities, Expected average monthly usage in megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5_label_en-US" xlink:label="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Expected average monthly usage in megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Expected average monthly usage in megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts" xlink:label="loc_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5" xlink:to="lab_pnm_PublicUtilitiesExpectedaveragemonthlyusageinmegawatts_7EE0D87E6940325A68091996B16247B5" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of substation</link:label>
    <link:label id="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A_label_en-US" xlink:label="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Gain on sale of substation</link:label>
    <link:label id="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Gain on sale of substation</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesGainonsaleofsubstation" xlink:label="loc_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A" xlink:to="lab_pnm_PublicUtilitiesGainonsaleofsubstation_2BF83216BB99F769C3761996B162C94A" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Approved deployment costs</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B_label_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Deployment Costs</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved Deployment Costs</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesApprovedDeploymentCosts" xlink:label="loc_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B" xlink:to="lab_pnm_PublicUtilitiesApprovedDeploymentCosts_C81A1D96DEEDEC2D3A551996B162581B" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of time to collect deployment costs through surcharge period</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9_label_en-US" xlink:label="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Collection of Deployment Costs Through Surcharge Period</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Collection of Deployment Costs Through Surcharge Period</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod" xlink:label="loc_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9" xlink:to="lab_pnm_PublicUtilitiesCollectionOfDeploymentCostsThroughSurchargePeriod_D3B73972C0F7F4051F461996B16243C9" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Completion period of advanced meter deployment</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD_label_en-US" xlink:label="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Completion Period of Advanced Meter Deployment</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Completion Period of Advanced Meter Deployment</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment" xlink:label="loc_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD" xlink:to="lab_pnm_PublicUtilitiesCompletionPeriodOfAdvancedMeterDeployment_035F4872D70F298EC54E1996B16299DD" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-standard metering service cost total to be borne by opt-out customers</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering service cost total to be borne by opt-out customers</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering service cost total to be borne by opt-out customers</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers" xlink:label="loc_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A" xlink:to="lab_pnm_PublicUtilitiesNonstandardmeteringservicecosttotaltobebornebyoptoutcustomers_7F7FAAE88C3023E840351996B162DD1A" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-standard metering service cost initial fee range</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering service cost initial fee range</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering service cost initial fee range</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange" xlink:label="loc_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61" xlink:to="lab_pnm_PublicUtilitiesNonstandardmeteringservicecostinitialfeerange_8AFE9F1C585186B0CFB71996B162BA61" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-standard metering ongoing expenses total to be borne by opt-out customers</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering ongoing expenses total to be borne by opt-out customers</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering ongoing expenses total to be borne by opt-out customers</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers" xlink:label="loc_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E" xlink:to="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensestotaltobebornebyoptoutcustomers_6A47560EBD42344D5E4E1996B1627F0E" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-standard metering ongoing expenses monthly charge</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering ongoing expenses monthly charge</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Non-standard metering ongoing expenses monthly charge</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge" xlink:label="loc_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415" xlink:to="lab_pnm_PublicUtilitiesNonstandardmeteringongoingexpensesmonthlycharge_5807F3552D89736971ED1996B162B415" xlink:type="arc" />
    <link:label id="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5_terseLabel_en-US" xlink:label="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Presumed number of customers that will elect non-standard meter service (in customers)</link:label>
    <link:label id="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5_label_en-US" xlink:label="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Presumed number of customers that will elect non-standard meter service</link:label>
    <link:label id="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5_documentation_en-US" xlink:label="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Presumed number of customers that will elect non-standard meter service</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice" xlink:label="loc_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5" xlink:to="lab_pnm_Presumednumberofcustomersthatwillelectnonstandardmeterservice_E3F27C404DD6C3F7407E1996B1624BA5" xlink:type="arc" />
    <link:label id="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31_terseLabel_en-US" xlink:label="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current number of customers that have elected non-standard meter service (in customers)</link:label>
    <link:label id="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31_label_en-US" xlink:label="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current number of customers that have elected non-standard meter service</link:label>
    <link:label id="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31_documentation_en-US" xlink:label="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current number of customers that have elected non-standard meter service</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice" xlink:label="loc_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31" xlink:to="lab_pnm_Currentnumberofcustomersthathaveelectednonstandardmeterservice_82D1B631D9D15D3A64DD1996B1626D31" xlink:type="arc" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_B90D7D6F4741D879BC23F65DC597D351_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_B90D7D6F4741D879BC23F65DC597D351" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2016</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_F59451DFD8F47A12D6DEF66018AC2739_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_F59451DFD8F47A12D6DEF66018AC2739" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2017</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_E371822C0798FAF9F9EBF65DC59DAE5F_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_E371822C0798FAF9F9EBF65DC59DAE5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
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    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_8C31375AD65F8145E9380A86982C3DD4_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember_8C31375AD65F8145E9380A86982C3DD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revolving Credit Facility [Member]</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember_7CCDF01E2E5AAF2D017F0F0EA9C896F7" xlink:to="lab_us-gaap_BuildingMember_7CCDF01E2E5AAF2D017F0F0EA9C896F7" xlink:type="arc" />
    <link:label id="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8_terseLabel_en-US" xlink:label="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operating leases set to expire</link:label>
    <link:label id="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8_label_en-US" xlink:label="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Number of leases set to expire</link:label>
    <link:label id="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8_documentation_en-US" xlink:label="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Leases, Number of leases set to expire</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_OperatingLeasesNumberofleasessettoexpire" xlink:label="loc_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8" xlink:to="lab_pnm_OperatingLeasesNumberofleasessettoexpire_BDE653B76430B7859E430F0EA9C8EAE8" xlink:type="arc" />
    <link:label id="lab_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D_terseLabel_en-US" xlink:label="lab_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating leases, period to expiration of the lease</link:label>
    <link:label id="lab_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D_label_en-US" xlink:label="lab_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Period to expiration of the lease</link:label>
    <link:label id="lab_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D_documentation_en-US" xlink:label="lab_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Leases, Period to expiration of the lease</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_OperatingLeasesPeriodtoexpirationofthelease" xlink:label="loc_pnm_OperatingLeasesPeriodtoexpirationofthelease_3E7257B60842F92084B10F0EA9C8DA7D" xlink:type="locator" />
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    <link:label id="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0_terseLabel_en-US" xlink:label="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual lease payments</link:label>
    <link:label id="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0_label_en-US" xlink:label="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual lease payments</link:label>
    <link:label id="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0_documentation_en-US" xlink:label="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual lease payments</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_AnnualLeasePayments" xlink:label="loc_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0" xlink:to="lab_pnm_AnnualLeasePayments_E9BC27FA8822799306BF0F0EA9C88CE0" xlink:type="arc" />
    <link:label id="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422_verboseLabel_en-US" xlink:label="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating leases, renewal options after original lease term</link:label>
    <link:label id="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422_label_en-US" xlink:label="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Renewal Options After Original Lease Term</link:label>
    <link:label id="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422_documentation_en-US" xlink:label="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Leases, Renewal Options After Original Lease Term</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm" xlink:label="loc_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422" xlink:to="lab_pnm_OperatingLeasesRenewalOptionsAfterOriginalLeaseTerm_D596EA63F3673E3F870E0F0EA9C80422" xlink:type="arc" />
    <link:label id="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C_terseLabel_en-US" xlink:label="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental payments, fixed renewal option period during original terms of leases</link:label>
    <link:label id="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C_label_en-US" xlink:label="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rental Payments, Fixed renewal option period during original terms of leases</link:label>
    <link:label id="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C_documentation_en-US" xlink:label="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Rental Payments, Fixed renewal option period during original terms of leases</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases" xlink:label="loc_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C" xlink:to="lab_pnm_RentalPaymentsFixedRenewalOptionPeriodDuringOriginalTermsOfLeases_36BC0388A5D372C0D3750F0EA9C8927C" xlink:type="arc" />
    <link:label id="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59_terseLabel_en-US" xlink:label="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual lease payments during renewal period</link:label>
    <link:label id="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59_label_en-US" xlink:label="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Lease Payments During Renewal Period</link:label>
    <link:label id="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59_documentation_en-US" xlink:label="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Lease Payments During Renewal Period</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_AnnualLeasePaymentsDuringRenewalPeriod" xlink:label="loc_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59" xlink:to="lab_pnm_AnnualLeasePaymentsDuringRenewalPeriod_AD04613106A5337587140F0EA9C81D59" xlink:type="arc" />
    <link:label id="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D_terseLabel_en-US" xlink:label="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated purchase price of leased asset</link:label>
    <link:label id="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D_label_en-US" xlink:label="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase Price of Leased Asset</link:label>
    <link:label id="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D_documentation_en-US" xlink:label="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchase Price of Leased Asset</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PurchasePriceofLeasedAsset" xlink:label="loc_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D" xlink:to="lab_pnm_PurchasePriceofLeasedAsset_85D92830F8B8F9BE87BE0F0EA9C8C75D" xlink:type="arc" />
    <link:label id="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92_terseLabel_en-US" xlink:label="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leased capacity to be purchased (in megawatts)</link:label>
    <link:label id="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92_label_en-US" xlink:label="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leased Capacity to be Purchased</link:label>
    <link:label id="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92_documentation_en-US" xlink:label="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leased Capacity to be Purchased</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_LeasedCapacitytobePurchased" xlink:label="loc_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92" xlink:to="lab_pnm_LeasedCapacitytobePurchased_9515676EFA43DCE1198D0F0EA9C87F92" xlink:type="arc" />
    <link:label id="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201_terseLabel_en-US" xlink:label="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional capacity to be leased (in megawatts)</link:label>
    <link:label id="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201_label_en-US" xlink:label="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Leased Capacity to be Purchased</link:label>
    <link:label id="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201_documentation_en-US" xlink:label="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Additional Leased Capacity to be Purchased</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_AdditionalLeasedCapacitytobePurchased" xlink:label="loc_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201" xlink:to="lab_pnm_AdditionalLeasedCapacitytobePurchased_43FD575BAB73AEFB1FA90F0EA9C81201" xlink:type="arc" />
    <link:label id="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2_terseLabel_en-US" xlink:label="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease covenants, restrictions on conveying, transferring, leasing, and dividends (more than)</link:label>
    <link:label id="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2_label_en-US" xlink:label="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Covenant, Restriction on Conveying, Transferring, Leasing, &amp; Dividends</link:label>
    <link:label id="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2_documentation_en-US" xlink:label="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease Covenant, Restriction on Conveying, Transferring, Leasing, &amp; Dividends</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends" xlink:label="loc_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2" xlink:to="lab_pnm_LeaseCovenantRestrictionOnConveyingTransferringLeasingDividends_5C4410BE63EF38A28B8B0F0EA9C88DB2" xlink:type="arc" />
    <link:label id="lab_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss contingency, range of possible loss, portion not accrued</link:label>
    <link:label id="lab_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692_label_en-US" xlink:label="lab_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency, Range of Possible Loss, Portion Not Accrued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued" xlink:label="loc_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692" xlink:to="lab_us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_151F10906B65DDB303770F0EA9C89692" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesAdditionalownershippercentageinEIPacquired_891D1B6C40CFEC1D33E30F0EA9C83981_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAdditionalownershippercentageinEIPacquired_891D1B6C40CFEC1D33E30F0EA9C83981" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional area leased of the EIP</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAdditionalownershippercentageinEIPacquired_891D1B6C40CFEC1D33E30F0EA9C83981_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAdditionalownershippercentageinEIPacquired_891D1B6C40CFEC1D33E30F0EA9C83981" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Additional ownership percentage in EIP acquired</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAdditionalownershippercentageinEIPacquired_891D1B6C40CFEC1D33E30F0EA9C83981_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAdditionalownershippercentageinEIPacquired_891D1B6C40CFEC1D33E30F0EA9C83981" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Additional ownership percentage in EIP acquired</link:label>
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    <link:label id="lab_us-gaap_AssetsCurrentAbstract_D54C9E4EE6EDE5DC5552E5D67C518834_label_en-US" xlink:label="lab_us-gaap_AssetsCurrentAbstract_D54C9E4EE6EDE5DC5552E5D67C518834" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Current [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_us-gaap_AssetsCurrentAbstract_D54C9E4EE6EDE5DC5552E5D67C518834" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AccountsReceivableNetCurrent_173B96E399DC4EC27468E5D67C51B399_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetCurrent_173B96E399DC4EC27468E5D67C51B399" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Net, Current</link:label>
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    <link:label id="lab_us-gaap_DueFromRelatedPartiesCurrent_95881AA9C1EB3F57D96CE5D67C51B87D_terseLabel_en-US" xlink:label="lab_us-gaap_DueFromRelatedPartiesCurrent_95881AA9C1EB3F57D96CE5D67C51B87D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliate receivables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent" xlink:label="loc_us-gaap_DueFromRelatedPartiesCurrent_95881AA9C1EB3F57D96CE5D67C51B87D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InventoryNet_7398716E5801C0800161E5D67C51867E_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryNet_7398716E5801C0800161E5D67C51867E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Materials, supplies, and fuel stock</link:label>
    <link:label id="lab_us-gaap_InventoryNet_7398716E5801C0800161E5D67C51867E_label_en-US" xlink:label="lab_us-gaap_InventoryNet_7398716E5801C0800161E5D67C51867E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Net</link:label>
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    <link:label id="lab_us-gaap_RegulatoryAssetsCurrent_1D871CCFF818BD89160CE5D67C51E8B0_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsCurrent_1D871CCFF818BD89160CE5D67C51E8B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Regulatory assets</link:label>
    <link:label id="lab_us-gaap_RegulatoryAssetsCurrent_1D871CCFF818BD89160CE5D67C51E8B0_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsCurrent_1D871CCFF818BD89160CE5D67C51E8B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Regulatory Assets, Current</link:label>
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    <link:label id="lab_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C_terseLabel_en-US" xlink:label="lab_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of pension liability adjustment capitalized into construction work in process</link:label>
    <link:label id="lab_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C_label_en-US" xlink:label="lab_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Pension Liability Adjustment Capitalized into Construction Work In Process</link:label>
    <link:label id="lab_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C_documentation_en-US" xlink:label="lab_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Pension Liability Adjustment Capitalized into Construction Work In Process</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess" xlink:label="loc_pnm_PercentageofPensionLiabilityAdjustmentCapitalizedintoConstructionWorkInProcess_A2AE13E5F720A0D4418BEBC90951FC1C" xlink:type="locator" />
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    <link:label id="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0_terseLabel_en-US" xlink:label="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of pension liability adjustment capitalized into other accounts</link:label>
    <link:label id="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0_label_en-US" xlink:label="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Pension Liability Adjustment Capitalized into Other Accounts</link:label>
    <link:label id="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0_documentation_en-US" xlink:label="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Pension Liability Adjustment Capitalized into Other Accounts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts" xlink:label="loc_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0" xlink:to="lab_pnm_PercentageOfPensionLiabilityAdjustmentCapitalizedIntoOtherAccounts_368A53F56FE1A01E6F72EBC90951E7B0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_2AB935B24CDB680F2AB93C865C779324" xlink:type="arc" />
    <link:label id="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F_terseLabel_en-US" xlink:label="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction, By Transaction Type [Axis]</link:label>
    <link:label id="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F_label_en-US" xlink:label="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, By Transaction Type [Axis]</link:label>
    <link:label id="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F_documentation_en-US" xlink:label="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, By Transaction Type [Axis]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_RelatedPartyTransactionByTransactionTypeAxis" xlink:label="loc_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F" xlink:to="lab_pnm_RelatedPartyTransactionByTransactionTypeAxis_FB34B805D56CC0A077863C865C77FB1F" xlink:type="arc" />
    <link:label id="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7_terseLabel_en-US" xlink:label="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction, by Transaction Type [Domain]</link:label>
    <link:label id="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7_label_en-US" xlink:label="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, by Transaction Type [Domain]</link:label>
    <link:label id="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7_documentation_en-US" xlink:label="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, by Transaction Type [Domain]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_RelatedPartyTransactionByTransactionTypeDomain" xlink:label="loc_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7" xlink:to="lab_pnm_RelatedPartyTransactionByTransactionTypeDomain_D9D0DFF11F913422ED443C865C77A2B7" xlink:type="arc" />
    <link:label id="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5_terseLabel_en-US" xlink:label="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Service billings [Member]</link:label>
    <link:label id="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5_label_en-US" xlink:label="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Service Billings [Member]</link:label>
    <link:label id="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5_documentation_en-US" xlink:label="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Service Billings [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_ServiceBillingsMember" xlink:label="loc_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5" xlink:to="lab_pnm_ServiceBillingsMember_F857B90AEE7A7695C9B03C865C77B5C5" xlink:type="arc" />
    <link:label id="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676_terseLabel_en-US" xlink:label="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax sharing payments [Member]</link:label>
    <link:label id="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676_label_en-US" xlink:label="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Sharing Payments [Member]</link:label>
    <link:label id="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676_documentation_en-US" xlink:label="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Tax Sharing Payments [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_IncomeTaxSharingPaymentsMember" xlink:label="loc_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676" xlink:to="lab_pnm_IncomeTaxSharingPaymentsMember_36468978CB3CF016C5423C865C77D676" xlink:type="arc" />
    <link:label id="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0_terseLabel_en-US" xlink:label="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest charges [Member]</link:label>
    <link:label id="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0_label_en-US" xlink:label="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Charges [Member]</link:label>
    <link:label id="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0_documentation_en-US" xlink:label="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Charges [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_InterestChargesMember" xlink:label="loc_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0" xlink:to="lab_pnm_InterestChargesMember_405533A36CBDFABF0CBE3C865C7778E0" xlink:type="arc" />
    <link:label id="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369_terseLabel_en-US" xlink:label="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PNMR to PNM [Member]</link:label>
    <link:label id="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369_label_en-US" xlink:label="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pnmr to Pnm [Member]</link:label>
    <link:label id="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369_documentation_en-US" xlink:label="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pnmr to Pnm [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PnmrToPnmMember" xlink:label="loc_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369" xlink:to="lab_pnm_PnmrToPnmMember_BA3014A78FCF0912B2153C865C77A369" xlink:type="arc" />
    <link:label id="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846_terseLabel_en-US" xlink:label="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PNMR to TNMP [Member]</link:label>
    <link:label id="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846_label_en-US" xlink:label="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pnmr to Tnmp [Member]</link:label>
    <link:label id="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846_documentation_en-US" xlink:label="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pnmr to Tnmp [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PnmrToTnmpMember" xlink:label="loc_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846" xlink:to="lab_pnm_PnmrToTnmpMember_DDAE8EADDC37E8CF30823C865C770846" xlink:type="arc" />
    <link:label id="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D_terseLabel_en-US" xlink:label="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PNM to TNMP [Member]</link:label>
    <link:label id="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D_label_en-US" xlink:label="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pnm to Tnmp [Member]</link:label>
    <link:label id="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D_documentation_en-US" xlink:label="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pnm to Tnmp [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PnmToTnmpMember" xlink:label="loc_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D" xlink:to="lab_pnm_PnmToTnmpMember_D653CD97AE4983C41DAC3C865C77AF9D" xlink:type="arc" />
    <link:label id="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001_terseLabel_en-US" xlink:label="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">TNMP to PNMR [Member]</link:label>
    <link:label id="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001_label_en-US" xlink:label="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tnmp to Pnmr [Member]</link:label>
    <link:label id="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001_documentation_en-US" xlink:label="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tnmp to Pnmr [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_TnmpToPnmrMember" xlink:label="loc_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001" xlink:to="lab_pnm_TnmpToPnmrMember_F73F0D63126CD845DA453C865C77F001" xlink:type="arc" />
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    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_711BE76F755E7121D2EF0FC8BB0538DD_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_711BE76F755E7121D2EF0FC8BB0538DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_711BE76F755E7121D2EF0FC8BB0538DD" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2B4375EE5267A59ABD030FC8BB052B3B_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2B4375EE5267A59ABD030FC8BB052B3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_2B4375EE5267A59ABD030FC8BB052B3B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_F928F9C11A5D7C87356C0FC8BB0511A3_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives_F928F9C11A5D7C87356C0FC8BB0511A3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net unrealized (gains) losses on commodity derivatives</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_F928F9C11A5D7C87356C0FC8BB0511A3_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives_F928F9C11A5D7C87356C0FC8BB0511A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss) on Derivatives</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives_F928F9C11A5D7C87356C0FC8BB0511A3" xlink:type="locator" />
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    <link:label id="lab_us-gaap_GainLossOnSaleOfInvestments_33DECB3966425BE4FFEF0FC8BB051E90_negatedLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments_33DECB3966425BE4FFEF0FC8BB051E90" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Realized (gains) on available-for-sale securities</link:label>
    <link:label id="lab_us-gaap_GainLossOnSaleOfInvestments_33DECB3966425BE4FFEF0FC8BB051E90_label_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments_33DECB3966425BE4FFEF0FC8BB051E90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale of Investments</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensation_2386EC23C789F8C567240FC8BB05C4B1_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_2386EC23C789F8C567240FC8BB05C4B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_2386EC23C789F8C567240FC8BB05C4B1_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_2386EC23C789F8C567240FC8BB05C4B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation</link:label>
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    <link:label id="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofadjustedNBV_8DEF5E82405E15A19FF0FA44D6773E4F_terseLabel_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofadjustedNBV_8DEF5E82405E15A19FF0FA44D6773E4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, purchase price - percentage of adjusted NBV</link:label>
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    <link:label id="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732_terseLabel_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, purchase price - percentage of FMV</link:label>
    <link:label id="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732_label_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, purchase price - percentage of FMV</link:label>
    <link:label id="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732_documentation_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, purchase price - percentage of FMV</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV" xlink:label="loc_pnm_LongtermcontractoptiontopurchasepurchasepricepercentageofFMV_525125C9B74D0C1E6F3CFA44D6777732" xlink:type="locator" />
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    <link:label id="lab_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC_terseLabel_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, number of days to set FMV</link:label>
    <link:label id="lab_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC_label_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, number of days to set FMV</link:label>
    <link:label id="lab_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC_documentation_en-US" xlink:label="lab_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, number of days to set FMV</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV" xlink:label="loc_pnm_LongtermcontractoptiontopurchasenumberofdaystosetFMV_1202D320F08891082593FA44D677C4CC" xlink:type="locator" />
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    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E_terseLabel_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, estimated purchase price</link:label>
    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E_label_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, estimated purchase price</link:label>
    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E_documentation_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, estimated purchase price</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice" xlink:label="loc_pnm_Longtermcontractoptiontopurchaseestimatedpurchaseprice_A4FFD469A765B0ED4B5AFA44D677FF3E" xlink:type="locator" />
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    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974_terseLabel_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, approximate approval period</link:label>
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    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974_documentation_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, approximate approval period</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod" xlink:label="loc_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974" xlink:to="lab_pnm_Longtermcontractoptiontopurchaseapproximateapprovalperiod_390E7175A832293C79E1FA44D677A974" xlink:type="arc" />
    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342_terseLabel_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, ownership percentage</link:label>
    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342_label_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, ownership percentage</link:label>
    <link:label id="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342_documentation_en-US" xlink:label="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term contract option to purchase, ownership percentage</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Longtermcontractoptiontopurchaseownershippercentage" xlink:label="loc_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342" xlink:to="lab_pnm_Longtermcontractoptiontopurchaseownershippercentage_8087DBCE1A4CECA25E6BFA44D6777342" xlink:type="arc" />
    <link:label id="lab_pnm_OperatingLeasesDifferentInstitutionalInvestorsOfTrustLessors_7FA85E60C0863331C85FFA44D677949D_terseLabel_en-US" xlink:label="lab_pnm_OperatingLeasesDifferentInstitutionalInvestorsOfTrustLessors_7FA85E60C0863331C85FFA44D677949D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of different institutional investors of trust lessors</link:label>
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    <link:label id="lab_pnm_OperatingLeasesDifferentInstitutionalInvestorsOfTrustLessors_7FA85E60C0863331C85FFA44D677949D_documentation_en-US" xlink:label="lab_pnm_OperatingLeasesDifferentInstitutionalInvestorsOfTrustLessors_7FA85E60C0863331C85FFA44D677949D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Leases, Different Institutional Investors of Trust Lessors</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_94B4B70C3BFD590D2EF5FA44D677E1D4_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_94B4B70C3BFD590D2EF5FA44D677E1D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued lease payments</link:label>
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    <link:label id="lab_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C_terseLabel_en-US" xlink:label="lab_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of years the operating licenses for plants were extended</link:label>
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    <link:label id="lab_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C_documentation_en-US" xlink:label="lab_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long Term Contract For Purchase of Power Term of Contract</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_LongTermContractForPurchaseofPowerTermofContract" xlink:label="loc_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C" xlink:to="lab_pnm_LongTermContractForPurchaseofPowerTermofContract_FF5D338E320CCA49DC14FA44D677B36C" xlink:type="arc" />
    <link:label id="lab_pnm_PeriodofLongTermContractForPurchaseofElectricPowerFixedCosts_EB0930E8847AEC6D4FB4FA44D67700E3_terseLabel_en-US" xlink:label="lab_pnm_PeriodofLongTermContractForPurchaseofElectricPowerFixedCosts_EB0930E8847AEC6D4FB4FA44D67700E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of long term contract for purchase of electric power, fixed costs</link:label>
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    <link:label id="lab_pnm_Paymentstoacquirebusinessesnet_3D9259AB0B734082E303FA44D6776D9D_terseLabel_en-US" xlink:label="lab_pnm_Paymentstoacquirebusinessesnet_3D9259AB0B734082E303FA44D6776D9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to acquire businesses, net</link:label>
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    <link:label id="lab_pnm_Paymentstoacquirebusinessesnet_3D9259AB0B734082E303FA44D6776D9D_documentation_en-US" xlink:label="lab_pnm_Paymentstoacquirebusinessesnet_3D9259AB0B734082E303FA44D6776D9D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments to acquire businesses, net</link:label>
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    <link:label id="lab_pnm_DefinedBenefitPlanEstimatedFutureEmployerContributionsinYearTwoThroughYearFive_44BE6648C142595E5BF81F155ADB0E78_terseLabel_en-US" xlink:label="lab_pnm_DefinedBenefitPlanEstimatedFutureEmployerContributionsinYearTwoThroughYearFive_44BE6648C142595E5BF81F155ADB0E78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated future employer contributions in years two through five</link:label>
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    <link:label id="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_F6F4E9A41AD5D27C80631F155ADC9DD0_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_F6F4E9A41AD5D27C80631F155ADC9DD0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum annual contributions per employee</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_F6F4E9A41AD5D27C80631F155ADC9DD0_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_F6F4E9A41AD5D27C80631F155ADC9DD0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent</link:label>
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    <link:label id="lab_pnm_DefinedContributionPlanNonMatchingContributionOfEligibleCompensationBasedOnEligibleEmployeesAge_F7E083CC118916C51E4E1F155ADC14F9_terseLabel_en-US" xlink:label="lab_pnm_DefinedContributionPlanNonMatchingContributionOfEligibleCompensationBasedOnEligibleEmployeesAge_F7E083CC118916C51E4E1F155ADC14F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-matching contribution of eligible compensation based on eligible employee's age</link:label>
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    <link:label id="lab_pnm_DefinedContributionPlanNonMatchingContributionOfEligibleCompensationBasedOnEligibleEmployeesAge_F7E083CC118916C51E4E1F155ADC14F9_documentation_en-US" xlink:label="lab_pnm_DefinedContributionPlanNonMatchingContributionOfEligibleCompensationBasedOnEligibleEmployeesAge_F7E083CC118916C51E4E1F155ADC14F9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, non matching contribution of eligible compensation based on eligible employee's age</link:label>
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    <link:label id="lab_us-gaap_DerivativesAndFairValueTextBlock_39B890EBF5DA9A9BDFCE3C865DEE69A7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesAndFairValueTextBlock_39B890EBF5DA9A9BDFCE3C865DEE69A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value of Derivative and Other Financial Instruments</link:label>
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    <link:label id="lab_pnm_IncomeLossFromEquityMethodInvestmentExcludingJointVenture_282331F495E0C3B5909C1F693DA39F9E_negatedTerseLabel_en-US" xlink:label="lab_pnm_IncomeLossFromEquityMethodInvestmentExcludingJointVenture_282331F495E0C3B5909C1F693DA39F9E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Equity in (earnings) of subsidiaries</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPollutionControlRevenueBondsMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPollutionControlRevenueBondsMember_A10169A13B0818E04FFEF6A7D3627565" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPollutionControlRevenueBondsMember_A10169A13B0818E04FFEF6A7D3627565" xlink:to="lab_pnm_SeniorUnsecuredNotesPollutionControlRevenueBondsMember_A10169A13B0818E04FFEF6A7D3627565" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.875% due 2033 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Note, PCRB Due 2033, at 4 point 875 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Note, PCRB Due 2033, at 4 point 875 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F" xlink:to="lab_pnm_SeniorUnsecuredNotePcrbDue2033At4Point875PercentMember_13D093BEBBAFAB28D89DF6A7D362088F" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.25% due 2038 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Note, PCRB Due 2038, at 6 point 25 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Note, PCRB Due 2038, at 6 point 25 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970" xlink:to="lab_pnm_SeniorUnsecuredNotePcrbDue2038At6Point25PercentMember_2CC7ED1BC7DA3D11CDE9F6A7D362B970" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.75% due 2040, mandatory tender at June 1, 2017 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Note, PCRB Due 2040, at 4 point 75 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Note, PCRB Due 2040, at 4 point 75 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC" xlink:to="lab_pnm_SeniorUnsecuredNotePcrbDue2040At4Point75PercentMember_165BDA2F58CB54201DB4F6A7D362A1FC" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.20% due 2040, mandatory tender at June 1, 2020 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2040, at 5 point 20 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2040, at 5 point 20 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F" xlink:to="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point20PercentMember_5990BC7F1ADE814EAFB5F6A7D362DD9F" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.90% due 2040 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2040, at 5 point 90 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2040, at 5 point 90 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0" xlink:to="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At5Point90PercentMember_AE66FB267E9B5BED5C97F6A7D362AFF0" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.25% due 2040 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2040, at 6 point 25 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2040, at 6 point 25 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C" xlink:to="lab_pnm_SeniorUnsecuredNotesPcrbDue2040At6Point25PercentMember_43EFF08ADFBE97DE1460F6A7D362A90C" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2.54% due 2042, mandatory tender at June 1, 2017 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2042, at 2 Point 54 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2042, at 2 Point 54 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A" xlink:to="lab_pnm_SeniorUnsecuredNotesPCRBDue2042at2Point54percentMember_6DD73AB190D3E85C9365F6A7D362364A" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.00% due 2043, mandatory tender at June 1, 2015 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2043, at 4 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2043, at 4 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8" xlink:to="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At4PercentMember_0355CCB7D4B980724CA2F6A7D36238C8" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorunsecurednotePCRBDue2043at2point4percentMember_839A1030D1B888CDCEE4F6A7D362B883_terseLabel_en-US" xlink:label="lab_pnm_SeniorunsecurednotePCRBDue2043at2point4percentMember_839A1030D1B888CDCEE4F6A7D362B883" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2.40% due 2043, mandatory tender at June 1, 2020 [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorunsecurednotePCRBDue2043at2point4percentMember" xlink:label="loc_pnm_SeniorunsecurednotePCRBDue2043at2point4percentMember_839A1030D1B888CDCEE4F6A7D362B883" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorunsecurednotePCRBDue2043at2point4percentMember_839A1030D1B888CDCEE4F6A7D362B883" xlink:to="lab_pnm_SeniorunsecurednotePCRBDue2043at2point4percentMember_839A1030D1B888CDCEE4F6A7D362B883" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.20% due 2043, mandatory tender at June 1, 2020 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2043, at 5 point 20 percent [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492_documentation_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, PCRB Due 2043, at 5 point 20 percent [Member]</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember" xlink:label="loc_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492" xlink:to="lab_pnm_SeniorUnsecuredNotesPcrbDue2043At5Point20PercentMember_27E73A81B04D318FE80DF6A7D3680492" xlink:type="arc" />
    <link:label id="lab_pnm_SeniorUnsecuredNotesDue2018At7Point95PercentMember_C0B6C0D52DA7FCF44D80F6A7D368B555_terseLabel_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesDue2018At7Point95PercentMember_C0B6C0D52DA7FCF44D80F6A7D368B555" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">7.95% due 2018 [Member]</link:label>
    <link:label id="lab_pnm_SeniorUnsecuredNotesDue2018At7Point95PercentMember_C0B6C0D52DA7FCF44D80F6A7D368B555_label_en-US" xlink:label="lab_pnm_SeniorUnsecuredNotesDue2018At7Point95PercentMember_C0B6C0D52DA7FCF44D80F6A7D368B555" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Unsecured Notes, Due 2018, at 7 point 95 percent [Member]</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Requested time period to recover retired units NBV</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618_label_en-US" xlink:label="lab_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Requested Time Period to Recover Retired Units NBV</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Requested Time Period to Recover Retired Units NBV</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV" xlink:label="loc_pnm_PublicUtilitiesRequestedTimePeriodtoRecoverRetiredUnitsNBV_D6AA4A0B89D27B0B310C18E1BD823618" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proposed value per kilowatt (in dollars per kilowatt)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD_label_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed value per Kilowatt effective January 1, 2018</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed value per Kilowatt effective January 1, 2018</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018" xlink:label="loc_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD" xlink:to="lab_pnm_PublicUtilitiesProposedvalueperKilowatteffectiveJanuary12018_C30C5A3ADB602D9066E018E1BD82FBBD" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Overall reduction of ownership (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C_label_en-US" xlink:label="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Overall Reduction Of Ownership, in Megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Overall Reduction Of Ownership, in Megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts" xlink:label="loc_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C" xlink:to="lab_pnm_PublicUtilitiesOverallReductionOfOwnershipinMegawatts_CC7ACC09663BCBBA636D18E1BD82547C" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of megawatts of gas-fired generation (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Newly Identified Replacement Gas-fired Generation, in Megawatts, December2013</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Newly Identified Replacement Gas-fired Generation, in Megawatts, December2013</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013" xlink:label="loc_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA" xlink:to="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementGasfiredGenerationinMegawattsDecember2013_CD68888C5E4F5573906418E1BD82CAFA" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Newly identified replacement solar generation (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565_label_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Newly Identified Replacement Solar Generation, in Megawatts, December2013</link:label>
    <link:label id="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Newly Identified Replacement Solar Generation, in Megawatts, December2013</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013" xlink:label="loc_pnm_PublicUtilitiesNewlyIdentifiedReplacementSolarGenerationinMegawattsDecember2013_233D3C10EAD22369A0D618E1BD82C565" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current ownership (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E_label_en-US" xlink:label="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Current ownership interest, in Megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Current ownership interest, in Megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesCurrentownershipinterestinMegawatts" xlink:label="loc_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E" xlink:to="lab_pnm_PublicUtilitiesCurrentownershipinterestinMegawatts_2794FB38485934F2DC3718E1BD82F98E" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recovery percentage of estimated undepreciated value</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142_label_en-US" xlink:label="lab_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Recovery Percentage of Estimated undepreciated value at 12/31/17</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Recovery Percentage of Estimated undepreciated value at 12/31/17</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117" xlink:label="loc_pnm_PublicUtilitiesRecoveryPercentageofEstimatedundepreciatedvalueat123117_3996C914762A047959FD18E1BD826142" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional ownership to be obtained (in megawatts)</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Additional Ownership To Be Obtained, in Megawatts</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Additional Ownership To Be Obtained, in Megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts" xlink:label="loc_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1" xlink:to="lab_pnm_PublicUtilitiesAdditionalOwnershipToBeObtainedinMegawatts_2CF6F4237BFB2FD165CB18E1BD827FC1" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated rate base value</link:label>
    <link:label id="lab_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54_label_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Estimated rate base value at 1/1/2018</link:label>
    <link:label id="lab_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Estimated rate base value at 1/1/2018</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesEstimatedratebasevalueat112018" xlink:label="loc_pnm_PublicUtilitiesEstimatedratebasevalueat112018_1FD188A464F568C42C7018E1BD823D54" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated undepreciated value</link:label>
    <link:label id="lab_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B_label_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Estimated undepreciated value at 12/31/17</link:label>
    <link:label id="lab_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Estimated undepreciated value at 12/31/17</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117" xlink:label="loc_pnm_PublicUtilitiesEstimatedundepreciatedvalueat123117_472672F256A86E65EEF618E1BD825F5B" xlink:type="locator" />
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    <link:label id="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13_terseLabel_en-US" xlink:label="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coal-fired generation (in megawatts)</link:label>
    <link:label id="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13_label_en-US" xlink:label="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">coal-fired generation in Megawatts</link:label>
    <link:label id="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13_documentation_en-US" xlink:label="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">coal-fired generation in Megawatts</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_CoalfiredgenerationinMegawatts" xlink:label="loc_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13" xlink:to="lab_pnm_CoalfiredgenerationinMegawatts_008BA7F518F4CBEEAEA418E1BD82BF13" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesNumberofMegawatthoursofRenewableEnergyCertificatestobeacquiredandretiredbeginningJan2020_C92207E25BA0A86F49AD18E1BD8270A6_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberofMegawatthoursofRenewableEnergyCertificatestobeacquiredandretiredbeginningJan2020_C92207E25BA0A86F49AD18E1BD8270A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of megawatt hours of renewable energy certificates to be acquired and retired (in megawatt hours)</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesNumberofMegawatthoursofRenewableEnergyCertificatestobeacquiredandretiredbeginningJan2020_C92207E25BA0A86F49AD18E1BD8270A6_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberofMegawatthoursofRenewableEnergyCertificatestobeacquiredandretiredbeginningJan2020_C92207E25BA0A86F49AD18E1BD8270A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Number of Megawatt-hours of Renewable Energy Certificates to be acquired and retired beginning Jan 2020</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesAnnualcostofRenewableEnergyCredits_6D066CECB7AA88C8E55518E1BD82934C_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualcostofRenewableEnergyCredits_6D066CECB7AA88C8E55518E1BD82934C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cost of renewable energy credits, maximum</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesAnnualcostofRenewableEnergyCredits_6D066CECB7AA88C8E55518E1BD82934C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualcostofRenewableEnergyCredits_6D066CECB7AA88C8E55518E1BD82934C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Annual cost of Renewable Energy Credits</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAnnualcostofRenewableEnergyCredits" xlink:label="loc_pnm_PublicUtilitiesAnnualcostofRenewableEnergyCredits_6D066CECB7AA88C8E55518E1BD82934C" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesEstimatedcoststoremainunrecovered_2DE4515CD9321EA70B4D18E1BD829A4A_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedcoststoremainunrecovered_2DE4515CD9321EA70B4D18E1BD829A4A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated costs to remain unrecovered</link:label>
    <link:label id="lab_pnm_PublicUtilitiesEstimatedcoststoremainunrecovered_2DE4515CD9321EA70B4D18E1BD829A4A_label_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedcoststoremainunrecovered_2DE4515CD9321EA70B4D18E1BD829A4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Estimated costs to remain unrecovered</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesEstimatedcoststoremainunrecovered" xlink:label="loc_pnm_PublicUtilitiesEstimatedcoststoremainunrecovered_2DE4515CD9321EA70B4D18E1BD829A4A" xlink:type="locator" />
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    <link:label id="lab_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180_terseLabel_en-US" xlink:label="lab_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership held by exiting owners</link:label>
    <link:label id="lab_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180_label_en-US" xlink:label="lab_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of ownership held by exiting owners</link:label>
    <link:label id="lab_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180_documentation_en-US" xlink:label="lab_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of ownership held by exiting owners</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Percentageofownershipheldbyexitingowners" xlink:label="loc_pnm_Percentageofownershipheldbyexitingowners_354F3E849A1ACF6416B118E1BD832180" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
    <link:label id="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B_label_en-US" xlink:label="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Ownership Percentage</link:label>
    <link:label id="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Ownership Percentage</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesOwnershipPercentage" xlink:label="loc_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B" xlink:to="lab_pnm_PublicUtilitiesOwnershipPercentage_B24B0D661CDC19C1692218E1BD83F46B" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs to obtain additional ownership</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D_label_en-US" xlink:label="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Costs to obtain additional ownership</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Costs to obtain additional ownership</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesCoststoobtainadditionalownership" xlink:label="loc_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D" xlink:to="lab_pnm_PublicUtilitiesCoststoobtainadditionalownership_86FC953969FC35EF025F18E1BD83A48D" xlink:type="arc" />
    <link:label id="lab_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D_terseLabel_en-US" xlink:label="lab_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proposed proportionate ownership share</link:label>
    <link:label id="lab_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D_label_en-US" xlink:label="lab_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Jointly Owned Utility Plan, Proposed Proportionate Ownership Share</link:label>
    <link:label id="lab_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D_documentation_en-US" xlink:label="lab_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Jointly Owned Utility Plan, Proposed Proportionate Ownership Share</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare" xlink:label="loc_pnm_JointlyOwnedUtilityPlanProposedProportionateOwnershipShare_6BA566BD8B432B36936C18E1BD83605D" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesUnsubscribedOwnershipinMegawatts_A528DE8E65AC8CBA0DFF18E1BD8356B2_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesUnsubscribedOwnershipinMegawatts_A528DE8E65AC8CBA0DFF18E1BD8356B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsubscribed ownership (in megawatts)</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesUnsubscribedOwnershipinMegawatts" xlink:label="loc_pnm_PublicUtilitiesUnsubscribedOwnershipinMegawatts_A528DE8E65AC8CBA0DFF18E1BD8356B2" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesPotentialAcquisitionofOwnershipinMegawatts_607B8369CADCD853D19D18E1BD83844E_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialAcquisitionofOwnershipinMegawatts_607B8369CADCD853D19D18E1BD83844E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Potential acquisition of ownership (in megawatts)</link:label>
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    <link:label id="lab_pnm_Otherincomerestructuringfee_0B7E8F3643E5358F664518E1BD83348B_terseLabel_en-US" xlink:label="lab_pnm_Otherincomerestructuringfee_0B7E8F3643E5358F664518E1BD83348B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income, restructuring fee</link:label>
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    <link:label id="lab_pnm_Otherincomerestructuringfee_0B7E8F3643E5358F664518E1BD83348B_documentation_en-US" xlink:label="lab_pnm_Otherincomerestructuringfee_0B7E8F3643E5358F664518E1BD83348B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other income, restructuring fee</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Otherincomerestructuringfee" xlink:label="loc_pnm_Otherincomerestructuringfee_0B7E8F3643E5358F664518E1BD83348B" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesNumberOfComplianceAlternatives_97A583301DB93ED73E5018E1BD832371_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesNumberOfComplianceAlternatives_97A583301DB93ED73E5018E1BD832371" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of compliance alternatives</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesNumberOfComplianceAlternatives" xlink:label="loc_pnm_PublicUtilitiesNumberOfComplianceAlternatives_97A583301DB93ED73E5018E1BD832371" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesGovernmentStandardEmissionLimit_242806369A42E486BDD618E1BD839B9B_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesGovernmentStandardEmissionLimit_242806369A42E486BDD618E1BD839B9B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Government standard emissions limit (pounds per MMBTU, parts per million)</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesGovernmentStandardEmissionLimit_242806369A42E486BDD618E1BD839B9B_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesGovernmentStandardEmissionLimit_242806369A42E486BDD618E1BD839B9B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Government Standard Emission Limit</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesGovernmentStandardEmissionLimit" xlink:label="loc_pnm_PublicUtilitiesGovernmentStandardEmissionLimit_242806369A42E486BDD618E1BD839B9B" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plant requirement to meet opacity limit</link:label>
    <link:label id="lab_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63_label_en-US" xlink:label="lab_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilitites, Plant Requirment to Meet Opacity Limit, Percentage</link:label>
    <link:label id="lab_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63_documentation_en-US" xlink:label="lab_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilitites, Plant Requirment to Meet Opacity Limit, Percentage</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage" xlink:label="loc_pnm_PublicUtilititesPlantRequirmentToMeetOpacityLimitPercentage_8E35FFB487A5D255484818E1BD83DB63" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule imposes opacity limitation on certain fugitive dust emissions from coal and material handling operations</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F_label_en-US" xlink:label="lab_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Rule Imposes Opacity Limitation on Certain Fugitive Dust Emissions From Coal and Material Handling Operations</link:label>
    <link:label id="lab_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Rule Imposes Opacity Limitation on Certain Fugitive Dust Emissions From Coal and Material Handling Operations</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations" xlink:label="loc_pnm_PublicUtilitiesRuleImposesOpacityLimitationOnCertainFugitiveDustEmissionsFromCoalAndMaterialHandlingOperations_AA860F12220A365B47F018E1BD833C1F" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Third party sale of ownership percentage</link:label>
    <link:label id="lab_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F_label_en-US" xlink:label="lab_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Jointly Owned Utility Plant, Third Party Sale of Ownership Percentage</link:label>
    <link:label id="lab_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Jointly Owned Utility Plant, Third Party Sale of Ownership Percentage</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage" xlink:label="loc_pnm_PublicUtilitiesJointlyOwnedUtilityPlantThirdPartySaleofOwnershipPercentage_19DAF6F3F66F63CF8B5918E1BD836F3F" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Approved lease extension term</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7_label_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved lease extension term, Years</link:label>
    <link:label id="lab_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Approved lease extension term, Years</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesApprovedleaseextensiontermYears" xlink:label="loc_pnm_PublicUtilitiesApprovedleaseextensiontermYears_B1AD406EBD977313387118E1BD83A8C7" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of time to remedy violations until suit is filed</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB_label_en-US" xlink:label="lab_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Period of time to remedy violations until suit is filed, Days</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Period of time to remedy violations until suit is filed, Days</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays" xlink:label="loc_pnm_PublicUtilitiesPeriodoftimetoremedyviolationsuntilsuitisfiledDays_0B86582AB90AFD99A24C18E1BD83CCEB" xlink:type="locator" />
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    <link:label id="lab_pnm_NumberofstatesthatfiledapetitionagainsttheCleanPowerPlan_3EB58EAA48B8D8ECB12818E1BD8320BA_terseLabel_en-US" xlink:label="lab_pnm_NumberofstatesthatfiledapetitionagainsttheCleanPowerPlan_3EB58EAA48B8D8ECB12818E1BD8320BA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of states that filed a petition against the Clean Power Plan</link:label>
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    <link:label id="lab_pnm_NumberofstatesthatfiledapetitionagainsttheCleanPowerPlan_3EB58EAA48B8D8ECB12818E1BD8320BA_documentation_en-US" xlink:label="lab_pnm_NumberofstatesthatfiledapetitionagainsttheCleanPowerPlan_3EB58EAA48B8D8ECB12818E1BD8320BA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of states that filed a petition against the Clean Power Plan</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_NumberofstatesthatfiledapetitionagainsttheCleanPowerPlan" xlink:label="loc_pnm_NumberofstatesthatfiledapetitionagainsttheCleanPowerPlan_3EB58EAA48B8D8ECB12818E1BD8320BA" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesProposedpercentagereductioninCO2emissionsStayedbytheUSSC_5E0ED3019C49824530F418E1BD84EA8F_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedpercentagereductioninCO2emissionsStayedbytheUSSC_5E0ED3019C49824530F418E1BD84EA8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proposed percentage reduction in CO2 emissions</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProposedpercentagereductioninCO2emissionsStayedbytheUSSC_5E0ED3019C49824530F418E1BD84EA8F_label_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedpercentagereductioninCO2emissionsStayedbytheUSSC_5E0ED3019C49824530F418E1BD84EA8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed percentage reduction in CO2 emissions, Stayed by the USSC</link:label>
    <link:label id="lab_pnm_PublicUtilitiesProposedpercentagereductioninCO2emissionsStayedbytheUSSC_5E0ED3019C49824530F418E1BD84EA8F_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedpercentagereductioninCO2emissionsStayedbytheUSSC_5E0ED3019C49824530F418E1BD84EA8F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed percentage reduction in CO2 emissions, Stayed by the USSC</link:label>
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    <link:label id="lab_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD_terseLabel_en-US" xlink:label="lab_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of time to act on settlement</link:label>
    <link:label id="lab_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD_label_en-US" xlink:label="lab_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of time to act on settlement</link:label>
    <link:label id="lab_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD_documentation_en-US" xlink:label="lab_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period of time to act on settlement</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Periodoftimetoactonsettlement" xlink:label="loc_pnm_Periodoftimetoactonsettlement_FB93E2EB77906D97DFEF18E1BD8471BD" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilities1hourSO2EmissionsRate_AA29F3240C0CC1001A8618E1BD845C51_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilities1hourSO2EmissionsRate_AA29F3240C0CC1001A8618E1BD845C51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SO2 emissions rate (in pounds per MMBTU)</link:label>
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    <link:label id="lab_pnm_PublicUtilities1hourSO2EmissionsRate_AA29F3240C0CC1001A8618E1BD845C51_documentation_en-US" xlink:label="lab_pnm_PublicUtilities1hourSO2EmissionsRate_AA29F3240C0CC1001A8618E1BD845C51" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, 1-hour SO2 Emissions Rate</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilities1hourSO2EmissionsRate" xlink:label="loc_pnm_PublicUtilities1hourSO2EmissionsRate_AA29F3240C0CC1001A8618E1BD845C51" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesEmissionsTonsofSO2peryear_E27F8684E2B80BB1D14318E1BD844D61_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesEmissionsTonsofSO2peryear_E27F8684E2B80BB1D14318E1BD844D61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Emissions tons of SO2 per year</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesEmissionsTonsofSO2peryear_E27F8684E2B80BB1D14318E1BD844D61_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesEmissionsTonsofSO2peryear_E27F8684E2B80BB1D14318E1BD844D61" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Emissions Tons of SO2 per year</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesRevisedSO2EmissionsAgreedUpon_7358B9DA2AFDE743B45318E1BD84FBEB_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesRevisedSO2EmissionsAgreedUpon_7358B9DA2AFDE743B45318E1BD84FBEB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revised SO2 emissions agreed upon (in pounds per MMBTU)</link:label>
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    <link:label id="lab_us-gaap_LitigationSettlementAmount_51B2E7BCC2FC0F3D22E018E1BD8405E5_label_en-US" xlink:label="lab_us-gaap_LitigationSettlementAmount_51B2E7BCC2FC0F3D22E018E1BD8405E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Litigation Settlement, Amount</link:label>
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    <link:label id="lab_pnm_MinimumMegawattCapacityFromCoalAndOilFiredElectricGeneratingUnitsUnderJurisdictionOfMerucyAndAirToxicsStandards_F46AF6F3A76E4265A16B18E1BD84A263_terseLabel_en-US" xlink:label="lab_pnm_MinimumMegawattCapacityFromCoalAndOilFiredElectricGeneratingUnitsUnderJurisdictionOfMerucyAndAirToxicsStandards_F46AF6F3A76E4265A16B18E1BD84A263" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum megawatt capacity from coal and oil-fired electric generating units under jurisdiction of the Mercury and Air Toxics Standards (in megawatts)</link:label>
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    <link:label id="lab_pnm_MinimumMegawattCapacityFromCoalAndOilFiredElectricGeneratingUnitsUnderJurisdictionOfMerucyAndAirToxicsStandards_F46AF6F3A76E4265A16B18E1BD84A263_documentation_en-US" xlink:label="lab_pnm_MinimumMegawattCapacityFromCoalAndOilFiredElectricGeneratingUnitsUnderJurisdictionOfMerucyAndAirToxicsStandards_F46AF6F3A76E4265A16B18E1BD84A263" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum Megawatt Capacity from Coal and Oil-Fired Electric Generating Units under Jurisdiction of the Mercury and Air Toxics Standards</link:label>
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    <link:label id="lab_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A_terseLabel_en-US" xlink:label="lab_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mercury removal efficiency</link:label>
    <link:label id="lab_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A_label_en-US" xlink:label="lab_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mercury Removal Rate, Percentage</link:label>
    <link:label id="lab_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A_documentation_en-US" xlink:label="lab_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mercury Removal Rate, Percentage</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_MercuryRemovalRatePercentage" xlink:label="loc_pnm_MercuryRemovalRatePercentage_8610726782FBD91C791A18E1BD84CD0A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansAndLeasesReceivableCommitmentsVariableRates_6B2EFF30B16E3425368E18E1BD8404F9_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableCommitmentsVariableRates_6B2EFF30B16E3425368E18E1BD8404F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan agreement</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansAndLeasesReceivableCommitmentsVariableRates" xlink:label="loc_us-gaap_LoansAndLeasesReceivableCommitmentsVariableRates_6B2EFF30B16E3425368E18E1BD8404F9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate_540AFC0FA5774BEC19C418E1BD842F97_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate_540AFC0FA5774BEC19C418E1BD842F97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable interest rate</link:label>
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    <link:label id="lab_pnm_CoalMineReclamationBondstobepostedwithNMMMD_18BC99BA999497D3B82918E1BD84CBB8_terseLabel_en-US" xlink:label="lab_pnm_CoalMineReclamationBondstobepostedwithNMMMD_18BC99BA999497D3B82918E1BD84CBB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coal mine reclamation bonds to be posted with NMMMD</link:label>
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    <link:label id="lab_pnm_Cashusedtosupportbankletterorcreditarrangement_253C85697303ED85087218E1BD84320B_terseLabel_en-US" xlink:label="lab_pnm_Cashusedtosupportbankletterorcreditarrangement_253C85697303ED85087218E1BD84320B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash used to support bank letter or credit arrangement</link:label>
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    <link:label id="lab_pnm_Cashusedtosupportbankletterorcreditarrangement_253C85697303ED85087218E1BD84320B_documentation_en-US" xlink:label="lab_pnm_Cashusedtosupportbankletterorcreditarrangement_253C85697303ED85087218E1BD84320B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash used to support bank letter or credit arrangement</link:label>
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    <link:label id="lab_pnm_Numberofdaystoprovidesecurityinterest_1179A188EED6DBDE1EBD18E1BD8534C4_terseLabel_en-US" xlink:label="lab_pnm_Numberofdaystoprovidesecurityinterest_1179A188EED6DBDE1EBD18E1BD8534C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of days to provide security interest</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesEstimatedIncreaseinCoalCostPercentage_2F3C702B5BF5908A3D1A18E1BD85C43A_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedIncreaseinCoalCostPercentage_2F3C702B5BF5908A3D1A18E1BD85C43A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated increase in coal cost</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesAnnualFundingposttermreclamationtrust_73B76D6676EAC1E9781A18E1BD855E30_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualFundingposttermreclamationtrust_73B76D6676EAC1E9781A18E1BD855E30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Annual Funding post-term reclamation trust</link:label>
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    <link:label id="lab_pnm_ReclamationTrustFundingNextfiscalyear_85692A72E1ACB1572D6818E1BD8566D9_label_en-US" xlink:label="lab_pnm_ReclamationTrustFundingNextfiscalyear_85692A72E1ACB1572D6818E1BD8566D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclamation Trust Funding, Next fiscal year</link:label>
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    <link:label id="lab_pnm_ReclamationTrustFundingYear2_4134D148D9EBAE5569E718E1BD851941_documentation_en-US" xlink:label="lab_pnm_ReclamationTrustFundingYear2_4134D148D9EBAE5569E718E1BD851941" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclamation Trust Funding, Year 2</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_ReclamationTrustFundingYear2" xlink:label="loc_pnm_ReclamationTrustFundingYear2_4134D148D9EBAE5569E718E1BD851941" xlink:type="locator" />
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    <link:label id="lab_pnm_ReclamationTrustFundingYear3_86A6CFB883F899664E3118E1BD8502E2_documentation_en-US" xlink:label="lab_pnm_ReclamationTrustFundingYear3_86A6CFB883F899664E3118E1BD8502E2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclamation Trust Funding, Year 3</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_ReclamationTrustFundingYear3" xlink:label="loc_pnm_ReclamationTrustFundingYear3_86A6CFB883F899664E3118E1BD8502E2" xlink:type="locator" />
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    <link:label id="lab_pnm_FinalReclamationCappedAmountToBeCollected_64CF071BF54B5BF04EC218E1BD85A442_documentation_en-US" xlink:label="lab_pnm_FinalReclamationCappedAmountToBeCollected_64CF071BF54B5BF04EC218E1BD85A442" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Final Reclamation, capped amount to be collected</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_FinalReclamationCappedAmountToBeCollected" xlink:label="loc_pnm_FinalReclamationCappedAmountToBeCollected_64CF071BF54B5BF04EC218E1BD85A442" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RegulatoryAssets_2440F0BCB0C3A7E2AD5A18E1BD85B662_verboseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssets_2440F0BCB0C3A7E2AD5A18E1BD85B662" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Regulatory assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssets" xlink:label="loc_us-gaap_RegulatoryAssets_2440F0BCB0C3A7E2AD5A18E1BD85B662" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesProposedRetroactiveSurfaceMiningRoyaltyRate_2F59612DB0BB29F1C43B18E1BD85194C_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedRetroactiveSurfaceMiningRoyaltyRate_2F59612DB0BB29F1C43B18E1BD85194C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proposed retroactive surface mining royalty rate</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesProposedRetroactiveSurfaceMiningRoyaltyRate_2F59612DB0BB29F1C43B18E1BD85194C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedRetroactiveSurfaceMiningRoyaltyRate_2F59612DB0BB29F1C43B18E1BD85194C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed Retroactive Surface Mining Royalty Rate</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesProposedRetroactiveSurfaceMiningRoyaltyRate" xlink:label="loc_pnm_PublicUtilitiesProposedRetroactiveSurfaceMiningRoyaltyRate_2F59612DB0BB29F1C43B18E1BD85194C" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesCurrentSurfaceMiningRoyaltyRateappliedbetween2000and2003_13BCDBAD7999E046E09718E1BD85C06C_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesCurrentSurfaceMiningRoyaltyRateappliedbetween2000and2003_13BCDBAD7999E046E09718E1BD85C06C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Surface mining royalty rate applied between 2000 and 2003</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCurrentSurfaceMiningRoyaltyRateappliedbetween2000and2003_13BCDBAD7999E046E09718E1BD85C06C_label_en-US" xlink:label="lab_pnm_PublicUtilitiesCurrentSurfaceMiningRoyaltyRateappliedbetween2000and2003_13BCDBAD7999E046E09718E1BD85C06C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Current Surface Mining Royalty Rate applied between 2000 and 2003</link:label>
    <link:label id="lab_pnm_PublicUtilitiesCurrentSurfaceMiningRoyaltyRateappliedbetween2000and2003_13BCDBAD7999E046E09718E1BD85C06C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesCurrentSurfaceMiningRoyaltyRateappliedbetween2000and2003_13BCDBAD7999E046E09718E1BD85C06C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Current Surface Mining Royalty Rate applied between 2000 and 2003</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesEstimatedUnderpaidSurfaceMiningRoyaltiesunderproposedratechange_5A08468E79D0E34A883D18E1BD854076_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesEstimatedUnderpaidSurfaceMiningRoyaltiesunderproposedratechange_5A08468E79D0E34A883D18E1BD854076" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated underpaid surface mining royalties under proposed rate change</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesPotentialUnbilledMiningCostsOwedtoSJCC_BBDBDF8DE01CA48FDEB818E1BD85A983_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialUnbilledMiningCostsOwedtoSJCC_BBDBDF8DE01CA48FDEB818E1BD85A983" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Potential unbilled mining costs owed to SJCC</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesPotentialOverbilledMiningCostsSJCCOwestoSJGSOwners_57004A8253BEF7F1E83918E1BD855838_label_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialOverbilledMiningCostsSJCCOwestoSJGSOwners_57004A8253BEF7F1E83918E1BD855838" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Potential Overbilled Mining Costs SJCC Owes to SJGS Owners</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPotentialOverbilledMiningCostsSJCCOwestoSJGSOwners_57004A8253BEF7F1E83918E1BD855838_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialOverbilledMiningCostsSJCCOwestoSJGSOwners_57004A8253BEF7F1E83918E1BD855838" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Potential Overbilled Mining Costs SJCC Owes to SJGS Owners</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesPotentialOverbilledMiningCostsSJCCOwestoSJGSOwners" xlink:label="loc_pnm_PublicUtilitiesPotentialOverbilledMiningCostsSJCCOwestoSJGSOwners_57004A8253BEF7F1E83918E1BD855838" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Potential capital improvements billed as mining costs to SJGS owners</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC_label_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Potential Capital Improvements billed as Mining Costs to SJGS Owners</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Potential Capital Improvements billed as Mining Costs to SJGS Owners</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners" xlink:label="loc_pnm_PublicUtilitiesPotentialCapitalImprovementsbilledasMiningCoststoSJGSOwners_E4E97F46EFB7FB175C6918E1BD8575BC" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PNM's share of arbitration ruling</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632_label_en-US" xlink:label="lab_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, PNM Share of arbitration ruling</link:label>
    <link:label id="lab_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, PNM Share of arbitration ruling</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesPNMShareofarbitrationruling" xlink:label="loc_pnm_PublicUtilitiesPNMShareofarbitrationruling_16FF75B3166CABB499E918E1BD857632" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FFPAC percentage of mining costs overbilled or unbilled ruled by arbitration</link:label>
    <link:label id="lab_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437_label_en-US" xlink:label="lab_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, FFPAC Percentage of mining costs overbilled or unbilled ruled by arbitration</link:label>
    <link:label id="lab_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Percentage of PNM Share of mining costs overbilled or unbilled, as ruled by arbitration, that will pass through FFPAC</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration" xlink:label="loc_pnm_PublicUtilitiesFFPACPercentageofminingcostsoverbilledorunbilledruledbyarbitration_7DA2605E60010CEDB99218E1BD853437" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assessed coal severance surtax penalty and interest</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE_label_en-US" xlink:label="lab_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Assessed Coal Severance Surtax Penalty and Interest</link:label>
    <link:label id="lab_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Assessed Coal Severance Surtax Penalty and Interest</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest" xlink:label="loc_pnm_PublicUtilitiesAssessedCoalSeveranceSurtaxPenaltyandInterest_F878A4AE01464EACD55518E1BD853BAE" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liability insurance coverage</link:label>
    <link:label id="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4_label_en-US" xlink:label="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Liability Insurance Coverage</link:label>
    <link:label id="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Liability Insurance Coverage</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesLiabilityInsuranceCoverage" xlink:label="loc_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4" xlink:to="lab_pnm_PublicUtilitiesLiabilityInsuranceCoverage_2CC3EAFCD55B2D5DE57A18E1BD86E8E4" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage in nuclear reactor</link:label>
    <link:label id="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5_label_en-US" xlink:label="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Ownership Percentage in Nuclear Reactor</link:label>
    <link:label id="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Ownership Percentage in Nuclear Reactor</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor" xlink:label="loc_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5" xlink:to="lab_pnm_PublicUtilitiesOwnershipPercentageInNuclearReactor_DF7731380C7D87B518F318E1BD86E7C5" xlink:type="arc" />
    <link:label id="lab_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum potential assessment per incident</link:label>
    <link:label id="lab_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D_label_en-US" xlink:label="lab_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Maximum Potential Assessment Per Incident</link:label>
    <link:label id="lab_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Maximum Potential Assessment Per Incident</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident" xlink:label="loc_pnm_PublicUtilitiesMaximumPotentialAssessmentPerIncident_A34D092C64DCD269AE4418E1BD86269D" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesAnnualPaymentLimitationRelatedToIncident_DBEF42B7523BC5A8AB0018E1BD86FA5D_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualPaymentLimitationRelatedToIncident_DBEF42B7523BC5A8AB0018E1BD86FA5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual payment limitation related to incident</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesAnnualPaymentLimitationRelatedToIncident_DBEF42B7523BC5A8AB0018E1BD86FA5D_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAnnualPaymentLimitationRelatedToIncident_DBEF42B7523BC5A8AB0018E1BD86FA5D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Annual Payment Limitation Related to Incident</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAnnualPaymentLimitationRelatedToIncident" xlink:label="loc_pnm_PublicUtilitiesAnnualPaymentLimitationRelatedToIncident_DBEF42B7523BC5A8AB0018E1BD86FA5D" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesAggregateAmountOfAllRiskInsurance_F433EB7A2DAF98E03D3818E1BD86B07C_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesAggregateAmountOfAllRiskInsurance_F433EB7A2DAF98E03D3818E1BD86B07C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate amount of all risk insurance</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesAggregateAmountOfAllRiskInsurance_F433EB7A2DAF98E03D3818E1BD86B07C_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesAggregateAmountOfAllRiskInsurance_F433EB7A2DAF98E03D3818E1BD86B07C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Aggregate Amount of All Risk Insurance</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesAggregateAmountOfAllRiskInsurance" xlink:label="loc_pnm_PublicUtilitiesAggregateAmountOfAllRiskInsurance_F433EB7A2DAF98E03D3818E1BD86B07C" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesSublimitAmountUnderNuclearElectricInsuranceLimited_D6DAA3C2D46A5CB1257718E1BD8635C3_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesSublimitAmountUnderNuclearElectricInsuranceLimited_D6DAA3C2D46A5CB1257718E1BD8635C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sublimit amount under nuclear electric insurance limited</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_PublicUtilitiesSublimitAmountUnderNuclearElectricInsuranceLimited" xlink:label="loc_pnm_PublicUtilitiesSublimitAmountUnderNuclearElectricInsuranceLimited_D6DAA3C2D46A5CB1257718E1BD8635C3" xlink:type="locator" />
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    <link:label id="lab_pnm_PublicUtilitiesMaximumAmountUnderNuclearElecticInsuranceLimited_0A26F722A08A8C5BA7C618E1BD86ED48_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesMaximumAmountUnderNuclearElecticInsuranceLimited_0A26F722A08A8C5BA7C618E1BD86ED48" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum amount under nuclear electric insurance limited</link:label>
    <link:label id="lab_pnm_PublicUtilitiesMaximumAmountUnderNuclearElecticInsuranceLimited_0A26F722A08A8C5BA7C618E1BD86ED48_label_en-US" xlink:label="lab_pnm_PublicUtilitiesMaximumAmountUnderNuclearElecticInsuranceLimited_0A26F722A08A8C5BA7C618E1BD86ED48" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities, Maximum Amount under Nuclear Electic Insurance Limited</link:label>
    <link:label id="lab_pnm_PublicUtilitiesMaximumAmountUnderNuclearElecticInsuranceLimited_0A26F722A08A8C5BA7C618E1BD86ED48_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesMaximumAmountUnderNuclearElecticInsuranceLimited_0A26F722A08A8C5BA7C618E1BD86ED48" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Maximum Amount under Nuclear Electic Insurance Limited</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesProposedsettlementpendingregulatoryapproval_FA5D111BF5EA17D6A61E18E1BD86669E_terseLabel_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedsettlementpendingregulatoryapproval_FA5D111BF5EA17D6A61E18E1BD86669E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proposed settlement pending regulatory approval</link:label>
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    <link:label id="lab_pnm_PublicUtilitiesProposedsettlementpendingregulatoryapproval_FA5D111BF5EA17D6A61E18E1BD86669E_documentation_en-US" xlink:label="lab_pnm_PublicUtilitiesProposedsettlementpendingregulatoryapproval_FA5D111BF5EA17D6A61E18E1BD86669E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Utilities, Proposed settlement pending regulatory approval</link:label>
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    <link:label id="lab_pnm_NumberoflandownersclaimingtobeNavajoallottees_76D58DD783A785C2E00218E1BD8687C4_terseLabel_en-US" xlink:label="lab_pnm_NumberoflandownersclaimingtobeNavajoallottees_76D58DD783A785C2E00218E1BD8687C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of landowners claiming to be Navajo allottees (in landowners)</link:label>
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    <link:label id="lab_pnm_Numberofallotmentparcelsappraisalrequestedforreview_B202A694E9D770CED7B318E1BD869DD5_terseLabel_en-US" xlink:label="lab_pnm_Numberofallotmentparcelsappraisalrequestedforreview_B202A694E9D770CED7B318E1BD869DD5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of allotment parcels' appraisal requested for review (in allotment parcels)</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_Numberofallotmentparcelsappraisalrequestedforreview" xlink:label="loc_pnm_Numberofallotmentparcelsappraisalrequestedforreview_B202A694E9D770CED7B318E1BD869DD5" xlink:type="locator" />
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    <link:label id="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA_terseLabel_en-US" xlink:label="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of allotments where landowners are revoking rights of way renewal consents</link:label>
    <link:label id="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA_label_en-US" xlink:label="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of allotments where landowners are revoking rights of way renewal consents</link:label>
    <link:label id="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA_documentation_en-US" xlink:label="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of allotments where landowners are revoking rights of way renewal consents</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents" xlink:label="loc_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA" xlink:to="lab_pnm_Numberofallotmentswherelandownersarerevokingrightsofwayrenewalconsents_A497AC3D2C80929B4B0C18E1BD8606AA" xlink:type="arc" />
    <link:label id="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2_terseLabel_en-US" xlink:label="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of allotments, Previously contested rights of way renewal consents</link:label>
    <link:label id="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2_label_en-US" xlink:label="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of allotments, Previously contested rights of way renewal consents</link:label>
    <link:label id="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2_documentation_en-US" xlink:label="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of allotments, Previously contested rights of way renewal consents</link:label>
    <link:loc xlink:href="pnm-20151231.xsd#pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents" xlink:label="loc_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2" xlink:to="lab_pnm_NumberofallotmentsPreviouslycontestedrightsofwayrenewalconsents_B2584344DA81133100AC18E1BD8664F2" xlink:type="arc" />
    <link:label id="lab_us-gaap_AreaOfLand_EE01FE02332EAF0E966B18E1BD8641A8_terseLabel_en-US" xlink:label="lab_us-gaap_AreaOfLand_EE01FE02332EAF0E966B18E1BD8641A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acres of land at issue (in acres)</link:label>
    <link:label id="lab_us-gaap_AreaOfLand_EE01FE02332EAF0E966B18E1BD8641A8_label_en-US" xlink:label="lab_us-gaap_AreaOfLand_EE01FE02332EAF0E966B18E1BD8641A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Area of Land</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfLand" xlink:label="loc_us-gaap_AreaOfLand_EE01FE02332EAF0E966B18E1BD8641A8" xlink:type="locator" />
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    <link:label id="lab_pnm_NumberofallotmentparcelsatissueNottobecondemned_B8444BA98277D9ECECCB18E1BD86E7E1_terseLabel_en-US" xlink:label="lab_pnm_NumberofallotmentparcelsatissueNottobecondemned_B8444BA98277D9ECECCB18E1BD86E7E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of allotment parcels' at issue, Not to be condemned</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_NumberofallotmentparcelsatissueNottobecondemned" xlink:label="loc_pnm_NumberofallotmentparcelsatissueNottobecondemned_B8444BA98277D9ECECCB18E1BD86E7E1" xlink:type="locator" />
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    <link:label id="lab_pnm_Numberofallotmentparcelsatissue_7582AC8D0085B5BC422218E1BD86F95E_terseLabel_en-US" xlink:label="lab_pnm_Numberofallotmentparcelsatissue_7582AC8D0085B5BC422218E1BD86F95E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of allotment parcels' at issue</link:label>
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    <link:loc xlink:href="pnm-20151231.xsd#pnm_Numberofallotmentparcelsatissue" xlink:label="loc_pnm_Numberofallotmentparcelsatissue_7582AC8D0085B5BC422218E1BD86F95E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_923E900014A8796ECE193C865D712EED_terseLabel_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_923E900014A8796ECE193C865D712EED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension and Other Postretirement Benefits</link:label>
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