Related Party Transactions

3 Months Ended

Mar. 31, 2019

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. PNM also provides interconnection services to PNMR Development (Note 9) and NMRD.

The table below summarizes the nature and amount of related party transactions of PNMR, PNM, TNMP, and NMRD:



	Three Months Ended
	March 31,
	2019		2018
	(In thousands)
Services billings:
PNMR to PNM	$	26,826	$	23,679
PNMR to TNMP	10,058		8,365
PNM to TNMP	75		86
TNMP to PNMR	35		35
PNMR to NMRD	41		78
Renewable energy purchases:
PNM from NMRD	625		370
Interconnection billings:
PNM to NMRD	—		—
PNM to PNMR	—		—
Interest billings:
PNMR to PNM	933		62
PNM to PNMR	72		66
PNMR to TNMP	32		8
Income tax sharing payments:
PNMR to PNM	—		—
TNMP to PNMR	—		—