Related Party Transactions

3 Months Ended

Mar. 31, 2018

PNMR, PNM, TNMP, and NMRD are considered related parties as defined under GAAP, as is PNMR Services Company, a wholly-owned subsidiary of PNMR that provides corporate services to PNMR and its subsidiaries in accordance with shared services agreements. These services are billed at cost on a monthly basis to the business units. In addition, PNMR provides construction and operations and maintenance services to NMRD, a 50% owned subsidiary of PNMR Development (Note 1), and PNM purchases renewable energy from certain NMRD-owned facilities at a fixed price per MWh of energy produced. The table below summarizes the nature and amount of related party transactions of PNMR, PNM, TNMP, and NMRD:



	Three Months Ended
	March 31,
	2018		2017
	(In thousands)
Services billings:
PNMR to PNM	$	23,679	$	24,402
PNMR to TNMP	8,365		8,137
PNM to TNMP	86		85
TNMP to PNMR	35		35
PNMR to NMRD	78		—
Renewable energy purchases:
PNM from NMRD	370		—
Interest billings:
PNMR to PNM	62		—
PNM to PNMR	66		43
PNMR to TNMP	8		31
Income tax sharing payments:
PNMR to PNM	—		—
PNMR to TNMP	—		—
TNMP to PNMR	—		—