Related Party Transactions

6 Months Ended

Jun. 30, 2021

Related Party TransactionsPNMR, PNM, TNMP, and NMRD are considered related parties, 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. 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 and NMRD. See Note 16 for additional discussion of NMRD.

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


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
	(In thousands)
Services billings:
PNMR to PNM	$	26,150	$	24,521	$	52,375	$	46,644
PNMR to TNMP	10,135		9,703		20,500		18,430
PNM to TNMP	94		113		212		189
TNMP to PNMR	12		35		24		70

PNMR to NMRD	55		49		110		125
Renewable energy purchases:
PNM from NMRD	3,504		2,404		6,089		3,923
Interconnection billings:
PNM to NMRD	—		130		—		350
PNM to PNMR	—		—		—		—
NMRD to PNM	—		—		1,276		—
Interest billings:
PNMR to PNM	—		6		—		6
PNM to PNMR	36		77		72		158
PNMR to TNMP	—		1		—		2
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—