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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
TXNM, PNM, TNMP, and NMRD are considered related parties, as is PNMR Services Company, a wholly-owned subsidiary of TXNM that provides corporate services to TXNM and its subsidiaries in accordance with shared services agreements. These services are billed at cost on a monthly basis to the business units. In addition, PNM purchases renewable energy from certain NMRD-owned facilities at a fixed price per MWh of energy produced. On February 27, 2024, PNMR Development and AEP OnSite Partners sold their respective interests in NMRD, and the table below reflects transactions with NMRD prior to the sale.

TXNM files a consolidated federal income tax return with its affiliated companies. A tax allocation agreement exists between TXNM and each of its affiliated companies. These agreements provide that the subsidiary company will compute its taxable income on a stand-alone basis. If the result is a net tax liability, such amount shall be paid to TXNM. If there are net operating losses and/or tax credits, the subsidiary shall receive payment for the tax savings from TXNM to the extent that TXNM is able to utilize those benefits.
 
See Note 7 for information on intercompany borrowing arrangements. The table below summarizes the nature and amount of related party transactions of TXNM, PNM and TNMP:     
 Year Ended December 31,
 202420232022
(In thousands)
Services billings:
TXNM to PNM
$132,209 $124,321 $115,415 
TXNM to TNMP
53,166 47,470 42,293 
PNM to TNMP440 349 411 
TNMP to TXNM
114 141 141 
TNMP to PNM497 — — 
TXNM to NMRD
66 333 308 
Renewable energy purchases:
PNM from NMRD1,523 12,717 11,795 
Interest billings:
TXNM to PNM
142 23 13 
PNM to TXNM
612 582 249 
TXNM to TNMP
210 129 166 
Income tax sharing payments:
TXNM to PNM
2,351 5,338 — 
PNM to TXNM
— — 11,602 
TNMP to TXNM
10,312 15,749 8,341