Related Party Transactions

6 Months Ended

Jun. 30, 2022

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,
	2022		2021		2022		2021
	(In thousands)
Services billings:
PNMR to PNM	$	28,378	$	26,150	$	56,071	$	52,375
PNMR to TNMP	10,252		10,135		20,556		20,500
PNM to TNMP	123		94		216		212
TNMP to PNMR	35		12		71		24

PNMR to NMRD	81		55		145		110
Renewable energy purchases:
PNM from NMRD	3,801		3,504		6,422		6,089
Interconnection and facility study billings:
PNM to NMRD	—		—		—		—
PNM to PNMR	—		—		—		—
NMRD to PNM	—		—		—		1,276
Interest billings:
PNMR to PNM	2		—		9		—
PNM to PNMR	47		36		70		72
PNMR to TNMP	72		—		117		—
Income tax sharing payments:
PNMR to PNM	—		—		—		—
TNMP to PNMR	—		—		—		—