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Financing (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Derivative Liabilities at Fair Value
PNMR has entered into hedging agreements that establish a fixed rate for the indicated amount of variable rate debt, above which a customary spread is applied, which is subject to change if there is a change in PNMR’s credit rating. As of September 30, 2023, PNMR’s hedging agreements are as follows:

Variable Rate Established
Effective DateMaturity DateDebt HedgedFixed Rate
(In millions)(Percent)
March 17, 2023September 30, 2023$150.0 4.57 %
October 31, 2022December 31, 2023100.0 4.65 
October 31, 2022December 31, 2023100.0 4.66 
September 30, 2022December 31, 2023100.0 4.17 
September 30, 2022December 31, 2023100.0 4.18 
May 20, 2022December 31, 2023100.0 2.52 
May 2, 2022December 31, 2023150.0 2.65 
May 2, 2022December 31, 2023200.0 2.65 
January 1, 2024December 31, 2024100.0 3.32 
January 1, 2024December 31, 2024100.0 3.32 
January 1, 2024December 31, 2024100.0 3.38 
January 1, 2024December 31, 2024150.0 3.62 
January 1, 2024December 31, 2024150.0 3.57 
Schedule of Short-term Debt
Short-term debt outstanding consists of:
September 30, 2023December 31, 2022
Balance Outstanding
Weighted Average Interest Rate
Balance Outstanding
Weighted Average Interest Rate
(In thousands)
(In thousands)
PNM:
PNM Revolving Credit Facility$126,900 6.68%$145,900 5.67%
PNM New Mexico Credit Facility40,000 6.6740,000 5.68
166,900 185,900 
TNMP Revolving Credit Facility39,800 6.2936,700 5.29
PNMR Revolving Credit Facility198,800 6.929,400 5.90
$405,500 $232,000