<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with Wdesk from Workiva-->
<!--Copyright 2023 Workiva-->
<!--r:5b164d92-5716-4015-957c-d52613384244,g:3cb1a75b-8d91-4106-945f-9a41b92e88a3-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofEarningsPNMR" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedStatementsofEarningsPNMR"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofEarningsPNMR" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_c05471fd-2a7d-4457-ad48-0ce6993b1372" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock_39d0d27f-5cea-4a64-9564-feeadd8b1e23" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DividendsPreferredStock"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_c05471fd-2a7d-4457-ad48-0ce6993b1372" xlink:to="loc_us-gaap_DividendsPreferredStock_39d0d27f-5cea-4a64-9564-feeadd8b1e23" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_452a915f-9b8f-4942-9b10-eaa7a4d30436" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_c05471fd-2a7d-4457-ad48-0ce6993b1372" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_452a915f-9b8f-4942-9b10-eaa7a4d30436" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_5831689a-e664-41da-8b18-0cdbe81d7c62" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_c05471fd-2a7d-4457-ad48-0ce6993b1372" xlink:to="loc_us-gaap_ProfitLoss_5831689a-e664-41da-8b18-0cdbe81d7c62" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_bd832581-1bd2-4b96-b9b7-c45b07387ecd" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpense_03f89ad6-eee5-4d5f-a3be-cbb094297a3a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UtilitiesOperatingExpense"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_bd832581-1bd2-4b96-b9b7-c45b07387ecd" xlink:to="loc_us-gaap_UtilitiesOperatingExpense_03f89ad6-eee5-4d5f-a3be-cbb094297a3a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_42c74f29-d84e-44df-899d-959bee7e6827" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Revenues"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_bd832581-1bd2-4b96-b9b7-c45b07387ecd" xlink:to="loc_us-gaap_Revenues_42c74f29-d84e-44df-899d-959bee7e6827" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpense_3a2be134-ca3f-433d-9cbb-93e19e1379d9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UtilitiesOperatingExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_TransmissionAndDistributionCosts_a32d1026-efd9-405f-bc5f-9a7ec89bb4cf" xlink:href="pnm-20230331.xsd#pnm_TransmissionAndDistributionCosts"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_UtilitiesOperatingExpense_3a2be134-ca3f-433d-9cbb-93e19e1379d9" xlink:to="loc_pnm_TransmissionAndDistributionCosts_a32d1026-efd9-405f-bc5f-9a7ec89bb4cf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_40aaf4a4-d93b-4db3-bf09-b2771467f436" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_UtilitiesOperatingExpense_3a2be134-ca3f-433d-9cbb-93e19e1379d9" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_40aaf4a4-d93b-4db3-bf09-b2771467f436" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpenseTaxes_9378bef9-031c-492d-8591-bb30144c58d4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UtilitiesOperatingExpenseTaxes"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_UtilitiesOperatingExpense_3a2be134-ca3f-433d-9cbb-93e19e1379d9" xlink:to="loc_us-gaap_UtilitiesOperatingExpenseTaxes_9378bef9-031c-492d-8591-bb30144c58d4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization_31731c3e-b3e3-4634-9fca-1754a6da491a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_UtilitiesOperatingExpense_3a2be134-ca3f-433d-9cbb-93e19e1379d9" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization_31731c3e-b3e3-4634-9fca-1754a6da491a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSold_ecc3b452-ac19-49d7-bb6f-8861dd8d3cad" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostOfGoodsAndServicesSold"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_UtilitiesOperatingExpense_3a2be134-ca3f-433d-9cbb-93e19e1379d9" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSold_ecc3b452-ac19-49d7-bb6f-8861dd8d3cad" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_c4b69ada-3f1d-4686-ae8a-e6decd64e711" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeInterest_deef116a-3521-44aa-9794-c5abc9436271" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentIncomeInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense_c4b69ada-3f1d-4686-ae8a-e6decd64e711" xlink:to="loc_us-gaap_InvestmentIncomeInterest_deef116a-3521-44aa-9794-c5abc9436271" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnInvestments_e461ffe1-faf8-4a14-abae-43a3b5e89ae6" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GainLossOnInvestments"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense_c4b69ada-3f1d-4686-ae8a-e6decd64e711" xlink:to="loc_us-gaap_GainLossOnInvestments_e461ffe1-faf8-4a14-abae-43a3b5e89ae6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncome_86734a1f-198a-49c6-a3da-d35304f221f7" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherIncome"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense_c4b69ada-3f1d-4686-ae8a-e6decd64e711" xlink:to="loc_us-gaap_OtherIncome_86734a1f-198a-49c6-a3da-d35304f221f7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherExpenses_502a9bdd-ed3d-413d-81ed-6cf9efeeab2a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherExpenses"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense_c4b69ada-3f1d-4686-ae8a-e6decd64e711" xlink:to="loc_us-gaap_OtherExpenses_502a9bdd-ed3d-413d-81ed-6cf9efeeab2a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8ec5090d-a637-4a9c-b296-d42f51bbcf2d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_c9c5b571-7980-46ef-9e22-e7733ba7475d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8ec5090d-a637-4a9c-b296-d42f51bbcf2d" xlink:to="loc_us-gaap_OperatingIncomeLoss_c9c5b571-7980-46ef-9e22-e7733ba7475d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_8839ed7b-3a1f-42b5-84b8-a42025a678e4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8ec5090d-a637-4a9c-b296-d42f51bbcf2d" xlink:to="loc_us-gaap_OtherNonoperatingIncomeExpense_8839ed7b-3a1f-42b5-84b8-a42025a678e4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense_0e115f88-cecb-4d1d-8bc0-a7f1300e2546" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InterestExpense"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8ec5090d-a637-4a9c-b296-d42f51bbcf2d" xlink:to="loc_us-gaap_InterestExpense_0e115f88-cecb-4d1d-8bc0-a7f1300e2546" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_9b2b66d9-3959-4092-9284-f09667edbb2e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_082877b9-e5ae-400c-bcd5-1187d4bea99b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_9b2b66d9-3959-4092-9284-f09667edbb2e" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_082877b9-e5ae-400c-bcd5-1187d4bea99b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_7c0b8b8e-39a8-4a46-81ab-f400270704d3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_9b2b66d9-3959-4092-9284-f09667edbb2e" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_7c0b8b8e-39a8-4a46-81ab-f400270704d3" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofComprehensiveIncomePNMR" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedStatementsofComprehensiveIncomePNMR"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofComprehensiveIncomePNMR" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_732a729b-3dc4-4a8a-8a1f-09561a5713a4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_90c91c5e-7767-4ef7-96ec-a57577ad3efe" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_732a729b-3dc4-4a8a-8a1f-09561a5713a4" xlink:to="loc_us-gaap_ProfitLoss_90c91c5e-7767-4ef7-96ec-a57577ad3efe" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_c997a4d6-b970-43e7-a449-95bd483b6d47" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_732a729b-3dc4-4a8a-8a1f-09561a5713a4" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_c997a4d6-b970-43e7-a449-95bd483b6d47" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_2ed7bf72-62e1-4b89-b5d2-fffe3f309323" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_b2016bac-512f-4b2d-b485-94ea78dd8c39" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_2ed7bf72-62e1-4b89-b5d2-fffe3f309323" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_b2016bac-512f-4b2d-b485-94ea78dd8c39" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_505b59a2-16f0-46c7-95cb-28aab1a01a04" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_2ed7bf72-62e1-4b89-b5d2-fffe3f309323" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_505b59a2-16f0-46c7-95cb-28aab1a01a04" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_PreferredStockDividendRequirementsOfSubsidiary_6cbf5cf5-0fbe-44bf-9cda-d171b02e95b8" xlink:href="pnm-20230331.xsd#pnm_PreferredStockDividendRequirementsOfSubsidiary"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_2ed7bf72-62e1-4b89-b5d2-fffe3f309323" xlink:to="loc_pnm_PreferredStockDividendRequirementsOfSubsidiary_6cbf5cf5-0fbe-44bf-9cda-d171b02e95b8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_8faa1666-a27e-46e7-87bd-334f71539f89" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_0f16414c-d2c9-47e5-8c7f-bbac1c9b20bf" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_8faa1666-a27e-46e7-87bd-334f71539f89" xlink:to="loc_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_0f16414c-d2c9-47e5-8c7f-bbac1c9b20bf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax_d5b3f603-62fb-4edb-a4e4-5558d2807dd8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_8faa1666-a27e-46e7-87bd-334f71539f89" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax_d5b3f603-62fb-4edb-a4e4-5558d2807dd8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax_103dd028-a0f9-447b-8fff-bcff0f8fc274" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_8faa1666-a27e-46e7-87bd-334f71539f89" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax_103dd028-a0f9-447b-8fff-bcff0f8fc274" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_15461375-7d8c-4092-8c97-10e2ae2f419d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_8faa1666-a27e-46e7-87bd-334f71539f89" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_15461375-7d8c-4092-8c97-10e2ae2f419d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_97d1797e-0e2d-41a0-8d22-37ac1079ab8a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_8faa1666-a27e-46e7-87bd-334f71539f89" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_97d1797e-0e2d-41a0-8d22-37ac1079ab8a" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofCashFlowsPNMR" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedStatementsofCashFlowsPNMR"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofCashFlowsPNMR" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_37347263-5b34-4614-a90e-a2244c537c84" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DepreciationDepletionAndAmortization"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_DepreciationDepletionAndAmortization_37347263-5b34-4614-a90e-a2244c537c84" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherCurrentLiabilities_a376c703-795d-40fd-ab4c-3a2def2566d1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOtherCurrentLiabilities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherCurrentLiabilities_a376c703-795d-40fd-ab4c-3a2def2566d1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_IncreaseDecreaseInAccruedInterestAndTaxes_3bd7818e-5cd8-4c70-a198-cbc45d66976d" xlink:href="pnm-20230331.xsd#pnm_IncreaseDecreaseInAccruedInterestAndTaxes"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_pnm_IncreaseDecreaseInAccruedInterestAndTaxes_3bd7818e-5cd8-4c70-a198-cbc45d66976d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation_95068b49-9935-4dc3-b0e0-c03d3cbb26d9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ShareBasedCompensation"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_ShareBasedCompensation_95068b49-9935-4dc3-b0e0-c03d3cbb26d9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentAssets_1a2ffe71-df10-47ce-982e-92c68de8ad3b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentAssets"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentAssets_1a2ffe71-df10-47ce-982e-92c68de8ad3b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_67c05584-b2fd-43b1-9813-29d045fa438f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_ProfitLoss_67c05584-b2fd-43b1-9813-29d045fa438f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable_a05341c5-2eda-4f9d-a7c5-42d3bc7cecb8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAccountsPayable"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayable_a05341c5-2eda-4f9d-a7c5-42d3bc7cecb8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfInvestments_8bc38453-2040-437a-9db3-fa1b8779cf42" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GainLossOnSaleOfInvestments"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_GainLossOnSaleOfInvestments_8bc38453-2040-437a-9db3-fa1b8779cf42" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherCurrentAssets_a56eaf91-924a-4de3-b5a4-d048daca22ae" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOtherCurrentAssets"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherCurrentAssets_a56eaf91-924a-4de3-b5a4-d048daca22ae" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAllowanceForEquityFundsUsedDuringConstruction_809708dd-bec2-4682-b188-fb70a26ce2b0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAllowanceForEquityFundsUsedDuringConstruction"/>
    <link:calculationArc order="10" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInAllowanceForEquityFundsUsedDuringConstruction_809708dd-bec2-4682-b188-fb70a26ce2b0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNoncashIncomeExpense_7df7683c-95fa-4f5e-9f69-88c9fa752004" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherNoncashIncomeExpense"/>
    <link:calculationArc order="11" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_OtherNoncashIncomeExpense_7df7683c-95fa-4f5e-9f69-88c9fa752004" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_288f7d78-27eb-41f6-9b96-ae1f9e71422f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_288f7d78-27eb-41f6-9b96-ae1f9e71422f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_IncreaseDecreaseInAccountsReceivableAndUnbilledRevenues_460fba7b-9709-4775-8021-f6a2fa5b6974" xlink:href="pnm-20230331.xsd#pnm_IncreaseDecreaseInAccountsReceivableAndUnbilledRevenues"/>
    <link:calculationArc order="13" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_pnm_IncreaseDecreaseInAccountsReceivableAndUnbilledRevenues_460fba7b-9709-4775-8021-f6a2fa5b6974" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_a858f4b3-d0fe-415d-86da-318bb67bb4a2" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities"/>
    <link:calculationArc order="14" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_a858f4b3-d0fe-415d-86da-318bb67bb4a2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories_8784d59d-1937-4361-aac7-e0530c5da387" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInInventories"/>
    <link:calculationArc order="15" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_9cf5610c-bfc4-4e2e-ad4a-0bdca7ac5ab4" xlink:to="loc_us-gaap_IncreaseDecreaseInInventories_8784d59d-1937-4361-aac7-e0530c5da387" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a28d69f5-4257-4cd6-b4c0-d2a7c4500fa7" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_9a144de7-3942-41d7-98c0-0511f4698ff3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a28d69f5-4257-4cd6-b4c0-d2a7c4500fa7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_9a144de7-3942-41d7-98c0-0511f4698ff3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_d9b7d095-4fdf-42b2-bc7c-0fd0f1434002" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a28d69f5-4257-4cd6-b4c0-d2a7c4500fa7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_d9b7d095-4fdf-42b2-bc7c-0fd0f1434002" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_b558881f-e1ab-46c5-856d-27b04d59a9a9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a28d69f5-4257-4cd6-b4c0-d2a7c4500fa7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_b558881f-e1ab-46c5-856d-27b04d59a9a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_cb9a0b61-8941-4383-9b4a-1fea94674149" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsToAcquireProductiveAssets"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:to="loc_us-gaap_PaymentsToAcquireProductiveAssets_cb9a0b61-8941-4383-9b4a-1fea94674149" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_d5211c06-188f-4726-89c2-c0e3416154cd" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:to="loc_us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_d5211c06-188f-4726-89c2-c0e3416154cd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireMarketableSecurities_753d6459-060a-4efe-9041-a5c3fb048b65" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsToAcquireMarketableSecurities"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:to="loc_us-gaap_PaymentsToAcquireMarketableSecurities_753d6459-060a-4efe-9041-a5c3fb048b65" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_0eb58721-7eb5-4609-af15-901ec1e6e71e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:to="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_0eb58721-7eb5-4609-af15-901ec1e6e71e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments_8db9fc7a-54dc-46e0-803f-30313a5b75c8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:to="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments_8db9fc7a-54dc-46e0-803f-30313a5b75c8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfProductiveAssets_ab2967c7-d29e-45ad-9572-4c51362c9037" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromSaleOfProductiveAssets"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_69ad17a9-9cd5-4229-94dd-23b23686e17c" xlink:to="loc_us-gaap_ProceedsFromSaleOfProductiveAssets_ab2967c7-d29e-45ad-9572-4c51362c9037" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_9b5772f0-fa05-4282-8dc6-3fec51ec2776" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_us-gaap_PaymentsOfDividendsCommonStock_9b5772f0-fa05-4282-8dc6-3fec51ec2776" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_40bc6d71-bc41-49b0-a647-e5a069fd0a09" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_40bc6d71-bc41-49b0-a647-e5a069fd0a09" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfLinesOfCredit_c9a4980d-4de5-4d79-8a4c-e4f8f2eb16c0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromRepaymentsOfLinesOfCredit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfLinesOfCredit_c9a4980d-4de5-4d79-8a4c-e4f8f2eb16c0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsMinorityInterest_06c01ab5-7a81-4d11-a657-84904e4c0dd9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsOfDividendsMinorityInterest"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_us-gaap_PaymentsOfDividendsMinorityInterest_06c01ab5-7a81-4d11-a657-84904e4c0dd9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_c3447f45-5b8e-4765-8040-17e9a478180b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_c3447f45-5b8e-4765-8040-17e9a478180b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_98d061ce-c093-4ef4-8439-4ed465198408" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_98d061ce-c093-4ef4-8439-4ed465198408" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_RepaymentsFromTransmissionInterconnectionArrangement_67b31dd2-09a5-4891-9060-807fe8273320" xlink:href="pnm-20230331.xsd#pnm_RepaymentsFromTransmissionInterconnectionArrangement"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_pnm_RepaymentsFromTransmissionInterconnectionArrangement_67b31dd2-09a5-4891-9060-807fe8273320" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_ProceedsFromTransmissionInterconnectionAndSecurityDepositArrangements_0cb5f478-a78c-4660-9b1a-9807099a87f8" xlink:href="pnm-20230331.xsd#pnm_ProceedsFromTransmissionInterconnectionAndSecurityDepositArrangements"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_53a1e63c-915a-46d3-98e8-5ef93663a85a" xlink:to="loc_pnm_ProceedsFromTransmissionInterconnectionAndSecurityDepositArrangements_0cb5f478-a78c-4660-9b1a-9807099a87f8" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedBalanceSheetsPNMR" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedBalanceSheetsPNMR"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedBalanceSheetsPNMR" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetRetirementObligationsNoncurrent_f253396c-f17b-4cd0-80ab-7a1e08115a01" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetRetirementObligationsNoncurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:to="loc_us-gaap_AssetRetirementObligationsNoncurrent_f253396c-f17b-4cd0-80ab-7a1e08115a01" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_aa71d148-9ead-4531-85ca-40825eda2508" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:to="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_aa71d148-9ead-4531-85ca-40825eda2508" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCreditsAndOtherLiabilitiesNoncurrent_5264a10d-6350-4d8b-a94c-048d3a9b3559" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredCreditsAndOtherLiabilitiesNoncurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:to="loc_us-gaap_DeferredCreditsAndOtherLiabilitiesNoncurrent_5264a10d-6350-4d8b-a94c-048d3a9b3559" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_1f6e5f53-1e4d-444c-8ccf-7c31bd927b79" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_1f6e5f53-1e4d-444c-8ccf-7c31bd927b79" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryLiabilityNoncurrent_0b3af626-56a7-45aa-a95c-19d118b73e8d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RegulatoryLiabilityNoncurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:to="loc_us-gaap_RegulatoryLiabilityNoncurrent_0b3af626-56a7-45aa-a95c-19d118b73e8d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_a5e6ea1a-c686-4742-b1d7-918b9bbdd007" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_47f2ea50-a343-4b53-ae44-b123ce741d29" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_a5e6ea1a-c686-4742-b1d7-918b9bbdd007" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_d877dc40-bd08-42e4-bf73-820cef59baa2" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_d877dc40-bd08-42e4-bf73-820cef59baa2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnbilledReceivablesCurrent_7557aa12-12bf-4731-bf30-0e2dffa502e8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UnbilledReceivablesCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_UnbilledReceivablesCurrent_7557aa12-12bf-4731-bf30-0e2dffa502e8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherReceivables_f1414bf5-6fc1-4545-9391-e8b448d3a449" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherReceivables"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_OtherReceivables_f1414bf5-6fc1-4545-9391-e8b448d3a449" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InventoryNet_9d4e01d1-5a25-4e2f-bc15-6395d378ad42" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InventoryNet"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_InventoryNet_9d4e01d1-5a25-4e2f-bc15-6395d378ad42" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryAssetsCurrent_83c4cb74-b82d-4920-9a5e-49437a295b2f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RegulatoryAssetsCurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_RegulatoryAssetsCurrent_83c4cb74-b82d-4920-9a5e-49437a295b2f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsCurrent_37f8f41c-0efb-49a9-b50a-65c1536a10c9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherAssetsCurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_OtherAssetsCurrent_37f8f41c-0efb-49a9-b50a-65c1536a10c9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesReceivable_d9196880-a266-416a-a50b-6ca387798573" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxesReceivable"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_IncomeTaxesReceivable_d9196880-a266-416a-a50b-6ca387798573" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_9cb1838a-eb3d-4329-beec-c3e30fc90ed1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_9cb1838a-eb3d-4329-beec-c3e30fc90ed1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrent_7afa17b7-6345-470b-9e4a-186f06537899" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PrepaidExpenseCurrent"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_87474a29-2e7c-437e-8671-9cf040eea86d" xlink:to="loc_us-gaap_PrepaidExpenseCurrent_7afa17b7-6345-470b-9e4a-186f06537899" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_99a4130c-d52f-4c1d-9e05-698c35ddc36a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_CumulativePreferredStockOfSubsidiaryWithoutMandatoryRedemptionRequirements_180367be-4f44-46a7-87e3-a0855996e0e3" xlink:href="pnm-20230331.xsd#pnm_CumulativePreferredStockOfSubsidiaryWithoutMandatoryRedemptionRequirements"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_99a4130c-d52f-4c1d-9e05-698c35ddc36a" xlink:to="loc_pnm_CumulativePreferredStockOfSubsidiaryWithoutMandatoryRedemptionRequirements_180367be-4f44-46a7-87e3-a0855996e0e3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_decb3ef6-a1ea-4e00-9571-690d635b1e15" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_99a4130c-d52f-4c1d-9e05-698c35ddc36a" xlink:to="loc_us-gaap_CommitmentsAndContingencies_decb3ef6-a1ea-4e00-9571-690d635b1e15" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_b1cb20d2-5066-41fd-be11-8b825f68d860" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Liabilities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_99a4130c-d52f-4c1d-9e05-698c35ddc36a" xlink:to="loc_us-gaap_Liabilities_b1cb20d2-5066-41fd-be11-8b825f68d860" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ce2b3a90-09e5-4a9c-b171-fccdbf4580a9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_99a4130c-d52f-4c1d-9e05-698c35ddc36a" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ce2b3a90-09e5-4a9c-b171-fccdbf4580a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_fd2bf9be-d075-4e41-abd6-6bf2e9bf0c82" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_a8158516-1dac-438e-96cf-ccc86e65f2b3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquity"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_fd2bf9be-d075-4e41-abd6-6bf2e9bf0c82" xlink:to="loc_us-gaap_StockholdersEquity_a8158516-1dac-438e-96cf-ccc86e65f2b3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_c72f2d83-4724-40af-b75c-adb625553103" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_MinorityInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_fd2bf9be-d075-4e41-abd6-6bf2e9bf0c82" xlink:to="loc_us-gaap_MinorityInterest_c72f2d83-4724-40af-b75c-adb625553103" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_b856b53b-258b-4f40-af3a-565439c97b06" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_de5c37ff-4397-4e6b-a3c7-be41ededa844" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_b856b53b-258b-4f40-af3a-565439c97b06" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_de5c37ff-4397-4e6b-a3c7-be41ededa844" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_8de5b03d-aff1-4edc-aa2b-1b6ff066173e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_b856b53b-258b-4f40-af3a-565439c97b06" xlink:to="loc_us-gaap_AssetsCurrent_8de5b03d-aff1-4edc-aa2b-1b6ff066173e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_TotalDeferredChargesAndOtherAssets_05b570e1-c052-4de4-9958-551dc95f69aa" xlink:href="pnm-20230331.xsd#pnm_TotalDeferredChargesAndOtherAssets"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_b856b53b-258b-4f40-af3a-565439c97b06" xlink:to="loc_pnm_TotalDeferredChargesAndOtherAssets_05b570e1-c052-4de4-9958-551dc95f69aa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_TotalOtherPropertyAndInvestments_4d5900a7-9f0e-4bb5-a731-af0b9416e811" xlink:href="pnm-20230331.xsd#pnm_TotalOtherPropertyAndInvestments"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_b856b53b-258b-4f40-af3a-565439c97b06" xlink:to="loc_pnm_TotalOtherPropertyAndInvestments_4d5900a7-9f0e-4bb5-a731-af0b9416e811" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_724736ee-30a1-4214-803a-a58fdb0535c3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_83ad09ea-26ff-40f4-bb6f-05b3752845a8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_724736ee-30a1-4214-803a-a58fdb0535c3" xlink:to="loc_us-gaap_LiabilitiesCurrent_83ad09ea-26ff-40f4-bb6f-05b3752845a8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_80b739e5-958f-4a5d-b057-f52ac38f8019" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_724736ee-30a1-4214-803a-a58fdb0535c3" xlink:to="loc_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent_80b739e5-958f-4a5d-b057-f52ac38f8019" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_cbb8e3be-927a-40d7-b4f5-c541ec545214" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LongTermDebtNoncurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_724736ee-30a1-4214-803a-a58fdb0535c3" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_cbb8e3be-927a-40d7-b4f5-c541ec545214" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_8ca73a7b-ed52-411a-aea6-f1da3ae57735" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_63a2e009-848b-4752-84a6-422f9b1d2eaf" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8ca73a7b-ed52-411a-aea6-f1da3ae57735" xlink:to="loc_us-gaap_CommonStockValue_63a2e009-848b-4752-84a6-422f9b1d2eaf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_cd0f795a-4f03-4ed6-859f-af53295e1a1b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8ca73a7b-ed52-411a-aea6-f1da3ae57735" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_cd0f795a-4f03-4ed6-859f-af53295e1a1b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_389caf1e-3f1d-49c7-a0fd-0633d17d546a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8ca73a7b-ed52-411a-aea6-f1da3ae57735" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_389caf1e-3f1d-49c7-a0fd-0633d17d546a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_d3ef348d-b7fd-4a8d-ad1b-56341fdc8355" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8ca73a7b-ed52-411a-aea6-f1da3ae57735" xlink:to="loc_us-gaap_AdditionalPaidInCapital_d3ef348d-b7fd-4a8d-ad1b-56341fdc8355" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_TotalOtherPropertyAndInvestments_eaeb0b22-1287-42e9-adb1-45ce88d9be90" xlink:href="pnm-20230331.xsd#pnm_TotalOtherPropertyAndInvestments"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentOtherNet_540be0f3-465c-4635-89ba-ae4cb9efe9d4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PropertyPlantAndEquipmentOtherNet"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalOtherPropertyAndInvestments_eaeb0b22-1287-42e9-adb1-45ce88d9be90" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentOtherNet_540be0f3-465c-4635-89ba-ae4cb9efe9d4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLongTermInvestments_55e94e31-363c-4c85-ba45-6361e8da357e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherLongTermInvestments"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalOtherPropertyAndInvestments_eaeb0b22-1287-42e9-adb1-45ce88d9be90" xlink:to="loc_us-gaap_OtherLongTermInvestments_55e94e31-363c-4c85-ba45-6361e8da357e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments_a28b25a8-8e7f-446d-a3c6-d223fff2ac94" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquityMethodInvestments"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalOtherPropertyAndInvestments_eaeb0b22-1287-42e9-adb1-45ce88d9be90" xlink:to="loc_us-gaap_EquityMethodInvestments_a28b25a8-8e7f-446d-a3c6-d223fff2ac94" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesNoncurrent_dcf45028-caf7-4bcc-ae5f-0149c53d945d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecuritiesNoncurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalOtherPropertyAndInvestments_eaeb0b22-1287-42e9-adb1-45ce88d9be90" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesNoncurrent_dcf45028-caf7-4bcc-ae5f-0149c53d945d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_77b68980-11ad-4d85-8700-ffb86d95619f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet_b75dbe61-07f3-4d28-a160-03d43b532212" xlink:href="pnm-20230331.xsd#pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_77b68980-11ad-4d85-8700-ffb86d95619f" xlink:to="loc_pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet_b75dbe61-07f3-4d28-a160-03d43b532212" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NuclearFuelNetOfAmortization_0830f90b-1f30-417d-8c49-67b2fa938e49" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NuclearFuelNetOfAmortization"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_77b68980-11ad-4d85-8700-ffb86d95619f" xlink:to="loc_us-gaap_NuclearFuelNetOfAmortization_0830f90b-1f30-417d-8c49-67b2fa938e49" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConstructionInProgressGross_e03657c1-9e69-4fcd-ae1a-67720f6a91c8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ConstructionInProgressGross"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_77b68980-11ad-4d85-8700-ffb86d95619f" xlink:to="loc_us-gaap_ConstructionInProgressGross_e03657c1-9e69-4fcd-ae1a-67720f6a91c8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_TotalDeferredChargesAndOtherAssets_6f00ec4a-554f-4d0f-879f-ff006b11d010" xlink:href="pnm-20230331.xsd#pnm_TotalDeferredChargesAndOtherAssets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryAssetsNoncurrent_047ab82e-520a-4ffb-8166-3f09a2f8a9d0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RegulatoryAssetsNoncurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalDeferredChargesAndOtherAssets_6f00ec4a-554f-4d0f-879f-ff006b11d010" xlink:to="loc_us-gaap_RegulatoryAssetsNoncurrent_047ab82e-520a-4ffb-8166-3f09a2f8a9d0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_cb91ab6c-aa4c-4c27-9f48-787d3cc6571f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Goodwill"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalDeferredChargesAndOtherAssets_6f00ec4a-554f-4d0f-879f-ff006b11d010" xlink:to="loc_us-gaap_Goodwill_cb91ab6c-aa4c-4c27-9f48-787d3cc6571f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_dbcfa137-a32e-407f-8a49-ee238e32c445" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalDeferredChargesAndOtherAssets_6f00ec4a-554f-4d0f-879f-ff006b11d010" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_dbcfa137-a32e-407f-8a49-ee238e32c445" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_OtherDeferredCostsNetIncludingDeferredFinanceCosts_7bcf0ca7-7e2d-4cde-b8ab-5a94a253308d" xlink:href="pnm-20230331.xsd#pnm_OtherDeferredCostsNetIncludingDeferredFinanceCosts"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_TotalDeferredChargesAndOtherAssets_6f00ec4a-554f-4d0f-879f-ff006b11d010" xlink:to="loc_pnm_OtherDeferredCostsNetIncludingDeferredFinanceCosts_7bcf0ca7-7e2d-4cde-b8ab-5a94a253308d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet_91c2ffd0-3ed5-41f7-a58a-cc5bd135bc8f" xlink:href="pnm-20230331.xsd#pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_67e11482-98f1-488b-a2df-8fe04a7fb45a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet_91c2ffd0-3ed5-41f7-a58a-cc5bd135bc8f" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_67e11482-98f1-488b-a2df-8fe04a7fb45a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_1b39f0c0-03f2-4913-a7bd-218345a357e9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_PublicUtilitiesPropertyPlantAndEquipmentInServiceNet_91c2ffd0-3ed5-41f7-a58a-cc5bd135bc8f" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_1b39f0c0-03f2-4913-a7bd-218345a357e9" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofEarningsPNM" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedStatementsofEarningsPNM"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofEarningsPNM" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_eea2e371-e3f9-411a-9bad-cdef8058744d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_4fb829eb-e218-4b4c-b860-0839a013f4f0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_eea2e371-e3f9-411a-9bad-cdef8058744d" xlink:to="loc_us-gaap_ProfitLoss_4fb829eb-e218-4b4c-b860-0839a013f4f0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_d1bc6a08-562e-4976-aa55-47bcc6a41abf" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_eea2e371-e3f9-411a-9bad-cdef8058744d" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_d1bc6a08-562e-4976-aa55-47bcc6a41abf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_b99dab0f-72d3-49e1-b2ea-5cd442c0b743" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock_92fe32de-c135-4876-a138-dd461d8f378f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DividendsPreferredStock"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_b99dab0f-72d3-49e1-b2ea-5cd442c0b743" xlink:to="loc_us-gaap_DividendsPreferredStock_92fe32de-c135-4876-a138-dd461d8f378f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_890946a3-4643-4dba-9bca-d76fdb6270c7" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_b99dab0f-72d3-49e1-b2ea-5cd442c0b743" xlink:to="loc_us-gaap_NetIncomeLoss_890946a3-4643-4dba-9bca-d76fdb6270c7" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedBalanceSheetsPNM" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedBalanceSheetsPNM"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedBalanceSheetsPNM" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrent_77fb3e2f-948b-4958-bfe6-9a2f0116ad80" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DividendsPayableCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_DividendsPayableCurrent_77fb3e2f-948b-4958-bfe6-9a2f0116ad80" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_AccruedInterestAndTaxesPayable_d9c393dc-970d-42e6-a7e6-05edaf440eb9" xlink:href="pnm-20230331.xsd#pnm_AccruedInterestAndTaxesPayable"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_pnm_AccruedInterestAndTaxesPayable_d9c393dc-970d-42e6-a7e6-05edaf440eb9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesCurrent_70c11ed4-efb9-4eb1-8ab2-f963cbe8b7ef" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherLiabilitiesCurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_OtherLiabilitiesCurrent_70c11ed4-efb9-4eb1-8ab2-f963cbe8b7ef" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_a0f6acb3-e436-4fde-bd11-584e04ab4fc1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseLiabilityCurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_a0f6acb3-e436-4fde-bd11-584e04ab4fc1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityCurrent_04df5384-715e-465a-90d7-ef7b552bfddb" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ContractWithCustomerLiabilityCurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_ContractWithCustomerLiabilityCurrent_04df5384-715e-465a-90d7-ef7b552bfddb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryLiabilityCurrent_ffa3d846-f948-44b0-be87-db1c4b023042" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RegulatoryLiabilityCurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_RegulatoryLiabilityCurrent_ffa3d846-f948-44b0-be87-db1c4b023042" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtCurrent_46fe4ed7-5d93-4d15-a8e0-986ca06bd299" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LongTermDebtCurrent"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_LongTermDebtCurrent_46fe4ed7-5d93-4d15-a8e0-986ca06bd299" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_TransmissionInterconnectionArrangementLiabilities_f95e9c6a-76d8-41df-bb47-2952863f74fb" xlink:href="pnm-20230331.xsd#pnm_TransmissionInterconnectionArrangementLiabilities"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_pnm_TransmissionInterconnectionArrangementLiabilities_f95e9c6a-76d8-41df-bb47-2952863f74fb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermBorrowings_9fe3af59-2e49-4541-ad36-97fa4d717d29" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ShortTermBorrowings"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_ShortTermBorrowings_9fe3af59-2e49-4541-ad36-97fa4d717d29" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableRelatedPartiesCurrent_2082ab4b-009f-440b-b509-f43760f32ede" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsPayableRelatedPartiesCurrent"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_AccountsPayableRelatedPartiesCurrent_2082ab4b-009f-440b-b509-f43760f32ede" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableCurrent_2e5b9f90-6f7b-47dd-9604-729ec2fe6fad" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsPayableCurrent"/>
    <link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_f10e7dbc-b1f8-4796-9be3-9907f15efe80" xlink:to="loc_us-gaap_AccountsPayableCurrent_2e5b9f90-6f7b-47dd-9604-729ec2fe6fad" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherReceivables_6913207a-491d-48f6-9908-03b759fe7675" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherReceivables"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_OtherReceivables_6913207a-491d-48f6-9908-03b759fe7675" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueFromRelatedPartiesCurrent_8b64de2e-4842-47cb-b5d1-ea48f0676f6e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DueFromRelatedPartiesCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_DueFromRelatedPartiesCurrent_8b64de2e-4842-47cb-b5d1-ea48f0676f6e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InventoryNet_9ec76148-cdb0-4b05-a8e3-16666cecaaf5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InventoryNet"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_InventoryNet_9ec76148-cdb0-4b05-a8e3-16666cecaaf5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_c42c2d43-846e-4de8-84f2-5252fbf25a3b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_c42c2d43-846e-4de8-84f2-5252fbf25a3b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryAssetsCurrent_7b327415-5207-47db-abb2-7c9f7de2e2ab" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RegulatoryAssetsCurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_RegulatoryAssetsCurrent_7b327415-5207-47db-abb2-7c9f7de2e2ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnbilledReceivablesCurrent_d71a42d5-0d4b-4f6d-87fc-7309f682db86" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UnbilledReceivablesCurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_UnbilledReceivablesCurrent_d71a42d5-0d4b-4f6d-87fc-7309f682db86" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_ff765fb6-1744-4485-a025-c7c85b8c4b65" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_ff765fb6-1744-4485-a025-c7c85b8c4b65" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrent_bdad131c-8629-4209-ae9c-402b6bbda80a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PrepaidExpenseCurrent"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_PrepaidExpenseCurrent_bdad131c-8629-4209-ae9c-402b6bbda80a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsCurrent_4fd0d927-f691-4a2b-9f2a-adec49302c7e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherAssetsCurrent"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_OtherAssetsCurrent_4fd0d927-f691-4a2b-9f2a-adec49302c7e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesReceivable_26b0c693-02c1-44cc-901e-c08b18e87c26" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxesReceivable"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_23ba9671-b4a2-4e7f-9c1e-c35ed7acdbdc" xlink:to="loc_us-gaap_IncomeTaxesReceivable_26b0c693-02c1-44cc-901e-c08b18e87c26" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofEarningsTNMP" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedStatementsofEarningsTNMP"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofEarningsTNMP" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_c9f2aa0a-e727-4bc8-a143-ed7dfadf4e26" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_6ffd41c4-5a11-4a3c-a5d7-cb22a103191d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_c9f2aa0a-e727-4bc8-a143-ed7dfadf4e26" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_6ffd41c4-5a11-4a3c-a5d7-cb22a103191d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_8c671409-a871-44c5-a729-d7294d1f1f78" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_c9f2aa0a-e727-4bc8-a143-ed7dfadf4e26" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_8c671409-a871-44c5-a729-d7294d1f1f78" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofCashFlowsTNMP" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedStatementsofCashFlowsTNMP"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedStatementsofCashFlowsTNMP" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_cd665488-3118-4ec6-a932-89fcd747da83" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_69df70a3-fc2f-44c3-9a79-04b9ebccdfaa" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_cd665488-3118-4ec6-a932-89fcd747da83" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_69df70a3-fc2f-44c3-9a79-04b9ebccdfaa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_RepaymentsFromTransmissionInterconnectionArrangement_057b807a-efdb-4cc5-a7be-23dc80ffd30f" xlink:href="pnm-20230331.xsd#pnm_RepaymentsFromTransmissionInterconnectionArrangement"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_cd665488-3118-4ec6-a932-89fcd747da83" xlink:to="loc_pnm_RepaymentsFromTransmissionInterconnectionArrangement_057b807a-efdb-4cc5-a7be-23dc80ffd30f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_ProceedsFromTransmissionInterconnectionAndSecurityDepositArrangements_d89a9ba1-cd8a-4664-8d02-c8247dcb64b9" xlink:href="pnm-20230331.xsd#pnm_ProceedsFromTransmissionInterconnectionAndSecurityDepositArrangements"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_cd665488-3118-4ec6-a932-89fcd747da83" xlink:to="loc_pnm_ProceedsFromTransmissionInterconnectionAndSecurityDepositArrangements_d89a9ba1-cd8a-4664-8d02-c8247dcb64b9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfLinesOfCredit_35cb6d9a-7034-4b2e-bd5e-bd0b2b831373" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromRepaymentsOfLinesOfCredit"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_cd665488-3118-4ec6-a932-89fcd747da83" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfLinesOfCredit_35cb6d9a-7034-4b2e-bd5e-bd0b2b831373" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_7a4130b5-c0ca-445b-8e04-99c55ccca8a5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_cd665488-3118-4ec6-a932-89fcd747da83" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_7a4130b5-c0ca-445b-8e04-99c55ccca8a5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/CondensedConsolidatedBalanceSheetsTNMP" xlink:type="simple" xlink:href="pnm-20230331.xsd#CondensedConsolidatedBalanceSheetsTNMP"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/CondensedConsolidatedBalanceSheetsTNMP" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_AccruedInterestAndTaxesPayable_10929031-41df-4618-a823-5bf1a4665cc9" xlink:href="pnm-20230331.xsd#pnm_AccruedInterestAndTaxesPayable"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_pnm_AccruedInterestAndTaxesPayable_10929031-41df-4618-a823-5bf1a4665cc9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermBorrowings_c5f36515-620b-44b5-8e6b-bb7d1a873130" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ShortTermBorrowings"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_ShortTermBorrowings_c5f36515-620b-44b5-8e6b-bb7d1a873130" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_7fd1d417-3530-475e-b984-519b8f59336d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseLiabilityCurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_7fd1d417-3530-475e-b984-519b8f59336d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableCurrent_95cbd51d-c684-4c85-98a0-3612ba8485a9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsPayableCurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_AccountsPayableCurrent_95cbd51d-c684-4c85-98a0-3612ba8485a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableRelatedPartiesCurrent_ac6c741d-58ab-445d-b3df-3d0981b1196a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsPayableRelatedPartiesCurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_AccountsPayableRelatedPartiesCurrent_ac6c741d-58ab-445d-b3df-3d0981b1196a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryLiabilityCurrent_9a36d274-e534-4f47-805e-422149f6c633" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RegulatoryLiabilityCurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_RegulatoryLiabilityCurrent_9a36d274-e534-4f47-805e-422149f6c633" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_c5c3e127-314c-461b-ba7d-5dce942d004f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NotesPayableRelatedPartiesClassifiedCurrent"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_c5c3e127-314c-461b-ba7d-5dce942d004f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesCurrent_e29c9d1a-78c4-4b0c-a2ca-676eb805175b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherLiabilitiesCurrent"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_b5a5701a-150d-4ccc-9f3b-3af0a94425b6" xlink:to="loc_us-gaap_OtherLiabilitiesCurrent_e29c9d1a-78c4-4b0c-a2ca-676eb805175b" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/SegmentInformationSummarizedFinancialInformationDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#SegmentInformationSummarizedFinancialInformationDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/SegmentInformationSummarizedFinancialInformationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_6ae227cb-ae3c-47d0-8b71-8505b9dd2e8d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSold_53dd840b-fd76-4f5a-b266-bdf505c26e21" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostOfGoodsAndServicesSold"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_6ae227cb-ae3c-47d0-8b71-8505b9dd2e8d" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSold_53dd840b-fd76-4f5a-b266-bdf505c26e21" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_OtherOperatingExpenses_afb2f902-ee78-461a-a608-f6c6fc14c62a" xlink:href="pnm-20230331.xsd#pnm_OtherOperatingExpenses"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_6ae227cb-ae3c-47d0-8b71-8505b9dd2e8d" xlink:to="loc_pnm_OtherOperatingExpenses_afb2f902-ee78-461a-a608-f6c6fc14c62a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization_511c97e7-e2bf-4cd2-8717-23bc7ab21408" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_6ae227cb-ae3c-47d0-8b71-8505b9dd2e8d" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization_511c97e7-e2bf-4cd2-8717-23bc7ab21408" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_fde4358c-f253-45e9-91b1-e05b1cd12311" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Revenues"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_6ae227cb-ae3c-47d0-8b71-8505b9dd2e8d" xlink:to="loc_us-gaap_Revenues_fde4358c-f253-45e9-91b1-e05b1cd12311" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_343d3d96-a8d1-4ace-9d8e-f7748f3972b9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_a4ee8875-4d0c-447f-8466-7c6c91d8e8ca" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_343d3d96-a8d1-4ace-9d8e-f7748f3972b9" xlink:to="loc_us-gaap_OperatingIncomeLoss_a4ee8875-4d0c-447f-8466-7c6c91d8e8ca" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeNet_38252854-09b8-4bea-9529-bf3c231b487d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentIncomeNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_343d3d96-a8d1-4ace-9d8e-f7748f3972b9" xlink:to="loc_us-gaap_InvestmentIncomeNet_38252854-09b8-4bea-9529-bf3c231b487d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_OtherIncomeDeductionsExcludingInterest_eafb65fe-1d74-466d-967c-79bc1ab67dc6" xlink:href="pnm-20230331.xsd#pnm_OtherIncomeDeductionsExcludingInterest"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_343d3d96-a8d1-4ace-9d8e-f7748f3972b9" xlink:to="loc_pnm_OtherIncomeDeductionsExcludingInterest_eafb65fe-1d74-466d-967c-79bc1ab67dc6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense_5f89dba1-e74f-4925-8449-82690e0d2f49" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InterestExpense"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_343d3d96-a8d1-4ace-9d8e-f7748f3972b9" xlink:to="loc_us-gaap_InterestExpense_5f89dba1-e74f-4925-8449-82690e0d2f49" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_4b6c4bf2-38db-4c89-9fac-589ad307d692" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GrossProfit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_83fb4abd-a6aa-416b-bb95-0e3811a1902f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Revenues"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_4b6c4bf2-38db-4c89-9fac-589ad307d692" xlink:to="loc_us-gaap_Revenues_83fb4abd-a6aa-416b-bb95-0e3811a1902f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSold_b20f9a31-2d74-43bb-b2bd-7399bf9b3f67" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostOfGoodsAndServicesSold"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_4b6c4bf2-38db-4c89-9fac-589ad307d692" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSold_b20f9a31-2d74-43bb-b2bd-7399bf9b3f67" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/SegmentInformationScheduleofGrossMarginDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#SegmentInformationScheduleofGrossMarginDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/SegmentInformationScheduleofGrossMarginDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_pnm_UtilityMargin_bfbb6567-91af-4503-8b15-87f045229743" xlink:href="pnm-20230331.xsd#pnm_UtilityMargin"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpenseProductsAndServices_80545275-7eba-4177-a6d8-1e011a799e6e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UtilitiesOperatingExpenseProductsAndServices"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_UtilityMargin_bfbb6567-91af-4503-8b15-87f045229743" xlink:to="loc_us-gaap_UtilitiesOperatingExpenseProductsAndServices_80545275-7eba-4177-a6d8-1e011a799e6e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_fbda0f7b-bab2-4a41-b6c5-c983df194bee" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GrossProfit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_UtilityMargin_bfbb6567-91af-4503-8b15-87f045229743" xlink:to="loc_us-gaap_GrossProfit_fbda0f7b-bab2-4a41-b6c5-c983df194bee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpenseDepreciationAndAmortization_444df7bd-0be1-4a2b-8ca9-21fc144614a5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UtilitiesOperatingExpenseDepreciationAndAmortization"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_UtilityMargin_bfbb6567-91af-4503-8b15-87f045229743" xlink:to="loc_us-gaap_UtilitiesOperatingExpenseDepreciationAndAmortization_444df7bd-0be1-4a2b-8ca9-21fc144614a5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpenseOperations_20a54a2f-3575-42ed-9a01-ad2180fd415b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UtilitiesOperatingExpenseOperations"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_UtilityMargin_bfbb6567-91af-4503-8b15-87f045229743" xlink:to="loc_us-gaap_UtilitiesOperatingExpenseOperations_20a54a2f-3575-42ed-9a01-ad2180fd415b" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/AccumulatedOtherComprehensiveIncomeLossDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#AccumulatedOtherComprehensiveIncomeLossDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/AccumulatedOtherComprehensiveIncomeLossDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f209eab3-e51a-4f36-b715-6fa6f781db1d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_6fee995a-5367-4177-97b2-57812c0b69a1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f209eab3-e51a-4f36-b715-6fa6f781db1d" xlink:to="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_6fee995a-5367-4177-97b2-57812c0b69a1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationFromAociCurrentPeriodTax_5dba484c-e8fd-4414-85a2-dae44143c1c9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ReclassificationFromAociCurrentPeriodTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f209eab3-e51a-4f36-b715-6fa6f781db1d" xlink:to="loc_us-gaap_ReclassificationFromAociCurrentPeriodTax_5dba484c-e8fd-4414-85a2-dae44143c1c9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_d8a9701a-3009-4520-91ab-c029ba9b2428" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f209eab3-e51a-4f36-b715-6fa6f781db1d" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_d8a9701a-3009-4520-91ab-c029ba9b2428" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax_ffd0afe7-a3cb-4fbb-8b0d-f89b05fe97b5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f209eab3-e51a-4f36-b715-6fa6f781db1d" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax_ffd0afe7-a3cb-4fbb-8b0d-f89b05fe97b5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/EarningsPerShareDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#EarningsPerShareDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/EarningsPerShareDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_d6560906-00cb-4ddb-9dc3-126b94105bf5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToEquityForwardAgreements_a8646652-98ac-4023-abbe-1cdc073a8f15" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncrementalCommonSharesAttributableToEquityForwardAgreements"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_d6560906-00cb-4ddb-9dc3-126b94105bf5" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToEquityForwardAgreements_a8646652-98ac-4023-abbe-1cdc073a8f15" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_67530fea-ac35-4864-a55e-5e1d8ea72b2f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_d6560906-00cb-4ddb-9dc3-126b94105bf5" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_67530fea-ac35-4864-a55e-5e1d8ea72b2f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_0d8d246e-4632-4bc5-9c47-fe48350ee2b9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_d6560906-00cb-4ddb-9dc3-126b94105bf5" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_0d8d246e-4632-4bc5-9c47-fe48350ee2b9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_3f9eea78-a108-4365-b7a9-92342b016c80" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesIssuedBasic_231a31f2-d9d9-4e8d-9c3c-433a035a6b7b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesIssuedBasic"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_3f9eea78-a108-4365-b7a9-92342b016c80" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesIssuedBasic_231a31f2-d9d9-4e8d-9c3c-433a035a6b7b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesRestrictedStock_1b8563f1-a912-4e0b-a326-da1934c8d8bc" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesRestrictedStock"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_3f9eea78-a108-4365-b7a9-92342b016c80" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesRestrictedStock_1b8563f1-a912-4e0b-a326-da1934c8d8bc" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/VariableInterestEntitiesDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#VariableInterestEntitiesDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/VariableInterestEntitiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_aa01b092-30d1-4ed4-944f-5b9120e728fe" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_1de43efe-9d17-4e99-9f80-8e10efef75aa" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_aa01b092-30d1-4ed4-944f-5b9120e728fe" xlink:to="loc_us-gaap_AssetsCurrent_1de43efe-9d17-4e99-9f80-8e10efef75aa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_e2a05f02-616f-4992-bab0-caba33a8e5d4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_aa01b092-30d1-4ed4-944f-5b9120e728fe" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_e2a05f02-616f-4992-bab0-caba33a8e5d4" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/FairValueofDerivativeandOtherFinancialInstrumentsOverviewandCommodityDerivativesDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#FairValueofDerivativeandOtherFinancialInstrumentsOverviewandCommodityDerivativesDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/FairValueofDerivativeandOtherFinancialInstrumentsOverviewandCommodityDerivativesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities_092123d1-bf2b-4bd3-b27f-63ced16c125b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeLiabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilitiesCurrent_3bb9a301-88df-4f7e-8795-4824318c00e8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeLiabilitiesCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeLiabilities_092123d1-bf2b-4bd3-b27f-63ced16c125b" xlink:to="loc_us-gaap_DerivativeLiabilitiesCurrent_3bb9a301-88df-4f7e-8795-4824318c00e8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilitiesNoncurrent_580887d2-735c-4577-923f-d09a398ca0a2" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeLiabilitiesNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeLiabilities_092123d1-bf2b-4bd3-b27f-63ced16c125b" xlink:to="loc_us-gaap_DerivativeLiabilitiesNoncurrent_580887d2-735c-4577-923f-d09a398ca0a2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets_5e52223e-d690-4ef1-aa8c-1dd3223c27b2" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeAssets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetsCurrent_cdb09406-ab53-4f78-92a7-adf0627c1219" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeAssetsCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_5e52223e-d690-4ef1-aa8c-1dd3223c27b2" xlink:to="loc_us-gaap_DerivativeAssetsCurrent_cdb09406-ab53-4f78-92a7-adf0627c1219" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetsNoncurrent_9a010b2f-aea7-4e3a-8d1e-853ec183fa2d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeAssetsNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_5e52223e-d690-4ef1-aa8c-1dd3223c27b2" xlink:to="loc_us-gaap_DerivativeAssetsNoncurrent_9a010b2f-aea7-4e3a-8d1e-853ec183fa2d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet_5f33f2d3-a678-4f4c-a2b3-15948576382b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets_79bee940-10f2-4c91-a055-9787580c1d71" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeAssets"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet_5f33f2d3-a678-4f4c-a2b3-15948576382b" xlink:to="loc_us-gaap_DerivativeAssets_79bee940-10f2-4c91-a055-9787580c1d71" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities_652c6efb-5eae-4b60-86de-c2f96a285ea5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DerivativeLiabilities"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet_5f33f2d3-a678-4f4c-a2b3-15948576382b" xlink:to="loc_us-gaap_DerivativeLiabilities_652c6efb-5eae-4b60-86de-c2f96a285ea5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/FairValueofDerivativeandOtherFinancialInstrumentsInvestmentsinNDTandGrossRealizedLossesDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#FairValueofDerivativeandOtherFinancialInstrumentsInvestmentsinNDTandGrossRealizedLossesDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/FairValueofDerivativeandOtherFinancialInstrumentsInvestmentsinNDTandGrossRealizedLossesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtAndEquitySecuritiesGainLoss_b85a65ab-c113-4af8-8026-cb6dd98039fe" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DebtAndEquitySecuritiesGainLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesRealizedGainLoss_5b2de488-f3eb-49d7-8af1-272ef01baed1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DebtSecuritiesRealizedGainLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtAndEquitySecuritiesGainLoss_b85a65ab-c113-4af8-8026-cb6dd98039fe" xlink:to="loc_us-gaap_DebtSecuritiesRealizedGainLoss_5b2de488-f3eb-49d7-8af1-272ef01baed1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiGainLoss_776990eb-833c-4b17-908d-9d4d7aef88c8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquitySecuritiesFvNiGainLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtAndEquitySecuritiesGainLoss_b85a65ab-c113-4af8-8026-cb6dd98039fe" xlink:to="loc_us-gaap_EquitySecuritiesFvNiGainLoss_776990eb-833c-4b17-908d-9d4d7aef88c8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiGainLoss_5c25f8b9-3600-4054-a5c6-99545e2d695d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquitySecuritiesFvNiGainLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiRealizedGainLoss_48efee78-49f6-4567-8647-c03987556b63" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquitySecuritiesFvNiRealizedGainLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquitySecuritiesFvNiGainLoss_5c25f8b9-3600-4054-a5c6-99545e2d695d" xlink:to="loc_us-gaap_EquitySecuritiesFvNiRealizedGainLoss_48efee78-49f6-4567-8647-c03987556b63" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss_309d656f-7c95-468b-9865-cfb691e9ca64" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquitySecuritiesFvNiGainLoss_5c25f8b9-3600-4054-a5c6-99545e2d695d" xlink:to="loc_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss_309d656f-7c95-468b-9865-cfb691e9ca64" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/FairValueofDerivativeandOtherFinancialInstrumentsMaturitiesofDebtSecuritiesDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#FairValueofDerivativeandOtherFinancialInstrumentsMaturitiesofDebtSecuritiesDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/FairValueofDerivativeandOtherFinancialInstrumentsMaturitiesofDebtSecuritiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_33e64a5b-d4d7-460a-a0e5-ec266fd4ace3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_33e64a5b-d4d7-460a-a0e5-ec266fd4ace3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_8bae6dd8-b8d8-4665-8e67-d02197185d00" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_8bae6dd8-b8d8-4665-8e67-d02197185d00" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_da6666dd-dce1-4288-98a1-dc1560e531f0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_da6666dd-dce1-4288-98a1-dc1560e531f0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsThroughFifteenYearsFairValue_611d961e-6af3-457c-88b5-83133107d129" xlink:href="pnm-20230331.xsd#pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsThroughFifteenYearsFairValue"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:to="loc_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsThroughFifteenYearsFairValue_611d961e-6af3-457c-88b5-83133107d129" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenYearsThroughTwentyYearsFairValue_36fd0b3d-4c2f-401d-9a3d-0714afb9de51" xlink:href="pnm-20230331.xsd#pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenYearsThroughTwentyYearsFairValue"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:to="loc_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenYearsThroughTwentyYearsFairValue_36fd0b3d-4c2f-401d-9a3d-0714afb9de51" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue_f8e9b147-a834-4113-9126-b741cd20ea76" xlink:href="pnm-20230331.xsd#pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_edbcd20a-ebd3-4841-8c2e-9c2e22006ad0" xlink:to="loc_pnm_AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue_f8e9b147-a834-4113-9126-b741cd20ea76" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/PensionandOtherPostretirementBenefitPlansScheduleofNetPeriodicBenefitCostsDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#PensionandOtherPostretirementBenefitPlansScheduleofNetPeriodicBenefitCostsDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/PensionandOtherPostretirementBenefitPlansScheduleofNetPeriodicBenefitCostsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_b73e449d-014e-4778-a5d5-8bc117e3576e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost_dd036b04-09f9-4d9d-ab2f-ec2275e9e8ff" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedBenefitPlanServiceCost"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_b73e449d-014e-4778-a5d5-8bc117e3576e" xlink:to="loc_us-gaap_DefinedBenefitPlanServiceCost_dd036b04-09f9-4d9d-ab2f-ec2275e9e8ff" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost_4b2d7d3b-c25a-4228-9315-e83ae86c2714" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedBenefitPlanInterestCost"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_b73e449d-014e-4778-a5d5-8bc117e3576e" xlink:to="loc_us-gaap_DefinedBenefitPlanInterestCost_4b2d7d3b-c25a-4228-9315-e83ae86c2714" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_54ef28b7-3507-4f3d-964f-64ca9ed6c24d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_b73e449d-014e-4778-a5d5-8bc117e3576e" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_54ef28b7-3507-4f3d-964f-64ca9ed6c24d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_e55a4d72-048f-4fb2-9ac1-ece30b6dfe77" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_b73e449d-014e-4778-a5d5-8bc117e3576e" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_e55a4d72-048f-4fb2-9ac1-ece30b6dfe77" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_f16c014c-6a82-4fe6-9d20-dc1796b47544" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_b73e449d-014e-4778-a5d5-8bc117e3576e" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_f16c014c-6a82-4fe6-9d20-dc1796b47544" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/LeaseCommitmentsFinanceLeaseBalanceSheetInformationDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#LeaseCommitmentsFinanceLeaseBalanceSheetInformationDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/LeaseCommitmentsFinanceLeaseBalanceSheetInformationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_570d96e0-0bf9-4acf-900a-696de0cc0c89" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseRightOfUseAsset"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_FinanceLeaseRightOfUseAssetGross_ee9ae11f-a655-46b7-bbab-5deae46b2ac9" xlink:href="pnm-20230331.xsd#pnm_FinanceLeaseRightOfUseAssetGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAsset_570d96e0-0bf9-4acf-900a-696de0cc0c89" xlink:to="loc_pnm_FinanceLeaseRightOfUseAssetGross_ee9ae11f-a655-46b7-bbab-5deae46b2ac9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_FinanceLeaseRightOfUseAssetAccumulatedDepreciation_b29ab0a1-7adf-412b-88f1-50028b884d46" xlink:href="pnm-20230331.xsd#pnm_FinanceLeaseRightOfUseAssetAccumulatedDepreciation"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAsset_570d96e0-0bf9-4acf-900a-696de0cc0c89" xlink:to="loc_pnm_FinanceLeaseRightOfUseAssetAccumulatedDepreciation_b29ab0a1-7adf-412b-88f1-50028b884d46" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/LeaseCommitmentsComponentsofLeaseExpenseDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#LeaseCommitmentsComponentsofLeaseExpenseDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/LeaseCommitmentsComponentsofLeaseExpenseDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseExpense_e22cee10-14ef-4614-8c63-defaaee563ea" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_OperatingLeaseCapitalizedCosts_f7bc05a1-82f0-44c4-b3fc-bdba4e372bc5" xlink:href="pnm-20230331.xsd#pnm_OperatingLeaseCapitalizedCosts"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeaseExpense_e22cee10-14ef-4614-8c63-defaaee563ea" xlink:to="loc_pnm_OperatingLeaseCapitalizedCosts_f7bc05a1-82f0-44c4-b3fc-bdba4e372bc5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost_f1b920c9-2f8a-45ea-ae17-f0719878e018" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseCost"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeaseExpense_e22cee10-14ef-4614-8c63-defaaee563ea" xlink:to="loc_us-gaap_OperatingLeaseCost_f1b920c9-2f8a-45ea-ae17-f0719878e018" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_FinanceLeaseCost_085ad876-e948-4396-bc62-7dbaf992151e" xlink:href="pnm-20230331.xsd#pnm_FinanceLeaseCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_b368bf94-8b6c-4b27-afb2-9f42c13a2e9b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseRightOfUseAssetAmortization"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_FinanceLeaseCost_085ad876-e948-4396-bc62-7dbaf992151e" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_b368bf94-8b6c-4b27-afb2-9f42c13a2e9b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseInterestExpense_eee6bfff-2f9f-47c2-89c0-fc4797d6da98" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseInterestExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_FinanceLeaseCost_085ad876-e948-4396-bc62-7dbaf992151e" xlink:to="loc_us-gaap_FinanceLeaseInterestExpense_eee6bfff-2f9f-47c2-89c0-fc4797d6da98" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_FinanceLeaseCapitalizedCosts_b3d5261f-b6b1-4c60-b61b-b3b1f660671f" xlink:href="pnm-20230331.xsd#pnm_FinanceLeaseCapitalizedCosts"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnm_FinanceLeaseCost_085ad876-e948-4396-bc62-7dbaf992151e" xlink:to="loc_pnm_FinanceLeaseCapitalizedCosts_b3d5261f-b6b1-4c60-b61b-b3b1f660671f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseCost_fd2e367d-d721-48a5-99a2-22d605ddabef" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LeaseCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseExpense_3391733f-58c5-447b-a148-5f8b8eb2d6ab" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_fd2e367d-d721-48a5-99a2-22d605ddabef" xlink:to="loc_us-gaap_OperatingLeaseExpense_3391733f-58c5-447b-a148-5f8b8eb2d6ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_FinanceLeaseCost_94c59fd6-db97-4998-86ba-dc4d226ae8d1" xlink:href="pnm-20230331.xsd#pnm_FinanceLeaseCost"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_fd2e367d-d721-48a5-99a2-22d605ddabef" xlink:to="loc_pnm_FinanceLeaseCost_94c59fd6-db97-4998-86ba-dc4d226ae8d1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableLeaseCost_d702beab-d172-4a37-87a7-5199874de766" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_VariableLeaseCost"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_fd2e367d-d721-48a5-99a2-22d605ddabef" xlink:to="loc_us-gaap_VariableLeaseCost_d702beab-d172-4a37-87a7-5199874de766" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermLeaseCost_ba464129-9d2f-45aa-b041-0b0b0c746bd6" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ShortTermLeaseCost"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_fd2e367d-d721-48a5-99a2-22d605ddabef" xlink:to="loc_us-gaap_ShortTermLeaseCost_ba464129-9d2f-45aa-b041-0b0b0c746bd6" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/LeaseCommitmentsScheduleofFutureExpectedLeasePaymentsDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#LeaseCommitmentsScheduleofFutureExpectedLeasePaymentsDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/LeaseCommitmentsScheduleofFutureExpectedLeasePaymentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_44d5cab5-ac3d-4504-a42f-4b2745eb0b58" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_d7f189c0-856c-4424-9f05-17571f5261c0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_44d5cab5-ac3d-4504-a42f-4b2745eb0b58" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_d7f189c0-856c-4424-9f05-17571f5261c0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiability_de43ef97-faf5-4c19-a940-9a14af67ad09" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiability"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_44d5cab5-ac3d-4504-a42f-4b2745eb0b58" xlink:to="loc_us-gaap_FinanceLeaseLiability_de43ef97-faf5-4c19-a940-9a14af67ad09" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_dfe9aba8-b3a3-4213-badb-b64c1040d236" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_dfe9aba8-b3a3-4213-badb-b64c1040d236" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_14df2078-a09c-48fc-8c97-74dc133da9b1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_14df2078-a09c-48fc-8c97-74dc133da9b1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_e17734bf-c27b-4efe-bddd-7154585fc0e5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_e17734bf-c27b-4efe-bddd-7154585fc0e5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_afc7ba7f-eb2b-4005-8266-058fe61818c6" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_afc7ba7f-eb2b-4005-8266-058fe61818c6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_c6697289-d3ff-4d28-b4b9-151af2242543" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_c6697289-d3ff-4d28-b4b9-151af2242543" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour_c80e79a8-b7fb-420f-a642-239a40294d98" xlink:href="pnm-20230331.xsd#pnm_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_48df7f4b-ca83-4f01-a275-0e56a6ca32f0" xlink:to="loc_pnm_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour_c80e79a8-b7fb-420f-a642-239a40294d98" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/LeaseCommitmentsScheduleofFutureExpectedLeasePaymentsDetails_1" xlink:type="simple" xlink:href="pnm-20230331.xsd#LeaseCommitmentsScheduleofFutureExpectedLeasePaymentsDetails_1"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/LeaseCommitmentsScheduleofFutureExpectedLeasePaymentsDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_667a597b-0c68-4dc7-8d01-45799e3f8c36" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_667a597b-0c68-4dc7-8d01-45799e3f8c36" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_fd4a96df-5f2c-4a0b-8bc7-119c8c1b1582" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_fd4a96df-5f2c-4a0b-8bc7-119c8c1b1582" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_04cc57f3-fb26-4e4f-b889-30d564f7fc65" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_04cc57f3-fb26-4e4f-b889-30d564f7fc65" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_b7a6d72b-44c7-4258-9474-31ab6b709c08" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_b7a6d72b-44c7-4258-9474-31ab6b709c08" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_6ff7b5b0-79ae-4f43-9686-10efe93bc00c" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_6ff7b5b0-79ae-4f43-9686-10efe93bc00c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pnm_FinanceLeaseLiabilityToBePaidAfterYearFour_96ba9c2b-dacc-4025-96bb-2bf9c12cc173" xlink:href="pnm-20230331.xsd#pnm_FinanceLeaseLiabilityToBePaidAfterYearFour"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_4ab70a86-be64-4c2c-9d95-e67bf93ff8c0" xlink:to="loc_pnm_FinanceLeaseLiabilityToBePaidAfterYearFour_96ba9c2b-dacc-4025-96bb-2bf9c12cc173" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_daf79038-4f70-48b8-b496-d6378a3498b7" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_fa55b5ea-f6a7-4f41-8f6b-6a3a74923d94" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_daf79038-4f70-48b8-b496-d6378a3498b7" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_fa55b5ea-f6a7-4f41-8f6b-6a3a74923d94" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_e468cf2c-2ea6-4c9a-80ce-95d875741ddc" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_daf79038-4f70-48b8-b496-d6378a3498b7" xlink:to="loc_us-gaap_OperatingLeaseLiability_e468cf2c-2ea6-4c9a-80ce-95d875741ddc" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.pnmresources.com/role/EquityMethodInvestmentSummarizedFinancialInformationDetails" xlink:type="simple" xlink:href="pnm-20230331.xsd#EquityMethodInvestmentSummarizedFinancialInformationDetails"/>
  <link:calculationLink xlink:role="http://www.pnmresources.com/role/EquityMethodInvestmentSummarizedFinancialInformationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_eac357f1-ec3d-48b5-a83c-a3dfa1013ffa" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_4c9a7ada-0032-4cf4-b604-5d105d20ff97" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Revenues"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_eac357f1-ec3d-48b5-a83c-a3dfa1013ffa" xlink:to="loc_us-gaap_Revenues_4c9a7ada-0032-4cf4-b604-5d105d20ff97" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses_3d4155f8-e1a1-40c3-8fcf-ddfa0428f75d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingExpenses"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_eac357f1-ec3d-48b5-a83c-a3dfa1013ffa" xlink:to="loc_us-gaap_OperatingExpenses_3d4155f8-e1a1-40c3-8fcf-ddfa0428f75d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_9dbea02d-6721-476f-be6f-871960664211" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Cash_170fe6f4-38eb-4f5a-8cea-8ef3bbf60058" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Cash"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_9dbea02d-6721-476f-be6f-871960664211" xlink:to="loc_us-gaap_Cash_170fe6f4-38eb-4f5a-8cea-8ef3bbf60058" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConstructionInProgressGross_de8a3bbd-ccca-4c6d-973c-1f6d088f7a79" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ConstructionInProgressGross"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_9dbea02d-6721-476f-be6f-871960664211" xlink:to="loc_us-gaap_ConstructionInProgressGross_de8a3bbd-ccca-4c6d-973c-1f6d088f7a79" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsNoncurrent_f95eda4c-a334-4da5-9fa9-61b34607eaef" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsNoncurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_9dbea02d-6721-476f-be6f-871960664211" xlink:to="loc_us-gaap_AssetsNoncurrent_f95eda4c-a334-4da5-9fa9-61b34607eaef" xlink:type="arc"/>
  </link:calculationLink>
</link:linkbase>
