Related Party Transactions

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(In thousands)
Services billings:
PNMR to PNM	$	23,617	$	24,204	$	75,992	$	70,848
PNMR to TNMP	9,187		9,645		29,687		28,075
PNM to TNMP	107		106		319		295
TNMP to PNMR	—		35		24		106

PNMR to NMRD	55		74		165		199
Renewable energy purchases:
PNM from NMRD	3,384		3,723		9,473		7,646
Interconnection billings:
PNM to NMRD	225		—		225		350
PNM to PNMR	—		—		—		—
NMRD to PNM	—		—		1,276		—
Interest billings:
PNMR to PNM	—		—		—		6
PNM to PNMR	36		60		108		218
PNMR to TNMP	—		—		—		2
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—