PNM to supply power to Arizona municipal utility


ALBUQUERQUE, N.M., Jan. 2, 2004 -- PNM Resources utility subsidiary PNM will supply up to 35 MW of power to the Mesa, Ariz., municipal utility.

Under an agreement approved by the Mesa City Council on Dec. 15, PNM is replacing Ohio-based American Electric Power (AEP) as supplier under a contract that runs through 2013.

PNM expects the Mesa contract will produce about $12 million in additional revenues for the company in 2004.

PNM will meet the obligation from its own generation resources and purchased power contracts. The company has a total of 2,461 megawatts of owned or leased generation and long-term purchase agreements, including a 390 MW share in the Palo Verde Nuclear Generating Station in Wintersburg, Ariz., 957 MW of coal-fired capacity at the San Juan and Four Corners power plants in northwestern New Mexico, 395 megawatts of natural gas-fired generation, and 200 megawatts of wind power in New Mexico.

The City of Mesa Electric Utility serves nearly 16,000 residential and commercial customers located in a 5.5 square mile area of the city.

PNM Resources is an energy holding company based in Albuquerque, N.M. PNM, the principal subsidiary of PNM Resources, serves about 450,000 natural gas customers and 390,000 electric customers in New Mexico. The company also sells power on the wholesale market in the western United States. PNM Resources stock is traded primarily on the NYSE under the symbol PNM. For more information, visit www.pnm.com.

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