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Construction Program and Jointly-Owned Electric Generating Plants (Tables)

12 Months Ended

Dec. 31, 2018

Construction Program and Jointly-Owned Electric Generating Plants [Abstract]

Summary of Interests and Investments in Jointly-Owned Generating Facilities

At December 31, 2018, PNM’s interests and investments in jointly-owned generating facilities are:

Station (Fuel Type)	Plant in Service				Accumulated Depreciation(1)				Construction Work in Progress				Composite Interest
	(In thousands)
SJGS (Coal) (2)	$	814,738			$	(443,517	)		$	820			66.34	%
PVNGS (Nuclear) (3)	$	831,663			$	(365,708	)		$	39,393			10.20	%
Four Corners Units 4 and 5 (Coal)	$	276,960			$	(98,085	)		$	7,455			13.00	%
Luna (Gas)	$	74,813			$	(28,609	)		$	131			33.33	%

⁽¹⁾  Includes cost of removal.

⁽²⁾  In December 2018, PNM submitted an NMPRC required filing indicating that, consistent with the conclusions reached in PNM’s 2017 IRP, PNM’s customers would benefit from the retirement of PNM’s share of SJGS in mid-2022. As of December 31, 2018, PNM impaired $121.8 million of plant in service and $86.8 million of accumulated depreciation on its 132 MW and 65 MW interests in SJGS Unit 4. These amounts are reflected in the table above and as $35.0 million of pre-tax regulatory disallowances and restructuring costs in the Consolidated Statements of Earnings. See Note 16 for additional discussion of the NMPRC’s December 16, 2015 order regarding SJGS’s compliance with the regional haze rules under the CAA and PNM’s December 2018 Compliance Filing.

⁽³⁾  Includes interest in PVNGS Unit 3, interest in common facilities for all PVNGS units, and owned interests in PVNGS Units 1 and 2, including improvements.

Summary of Budgeted Construction Expenditures

An unaudited summary of the budgeted construction expenditures, including expenditures for jointly-owned projects, and nuclear fuel, is as follows:

	2019				2020				2021				2022				2023				Total
									(In millions)
PNM	$	333.4			$	355.6			$	253.5			$	222.7			$	231.8			$	1,397.0
TNMP	245.4				245.0				245.3				244.9				218.9				1,199.5
Corporate and Other	26.5				25.3				20.3				19.9				20.2				112.2
Total PNMR	$	605.3			$	625.9			$	519.1			$	487.5			$	470.9			$	2,708.7

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- Definition

Construction Program and Jointly-Owned Electric Generating Plants [Abstract]

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Summary of budgeted construction expenditures [Table Text Block]

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- Definition

Tabular disclosure of proportionate interests in jointly owned utility plants. Includes the amount of plants in service, the accumulated provision for depreciation (if available), the amount of plants under construction, and the proportionate share. The amounts presented may be further subdivided to show amounts applicable to plant subcategories (for example, production, transmission, distribution). Includes statements that the amounts represent the utility's share in each joint plant and that it must provide its own financing. Information concerning two or more generating plants on the same site may be combined. States that the utility's share of direct expenses of the joint plants is included in the corresponding operating expenses on its income statement (for example, fuel, maintenance of plant, other operating expense). If the share of direct expenses is charged to purchased power, then disclose the amount so charged and the proportionate amounts charged to specific operating expenses on the records maintained for the joint plants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 980
-SubTopic 360
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 10.C)
-URI http://asc.fasb.org/extlink&oid=115995737&loc=d3e659983-123033

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