PNM provided more than $1,000,000 to deliver crucial relief to low- and moderate-income customers during record-breaking summer heatwave.

Over 20,000 customers received help with their summer electric bills.

 PNM announced today that shareholder funds helped thousands struggling with this summer’s heatwave aftermath.   The PNM Summer Heat Bill Help Fund, a dedicated initiative to support low and moderate-income customers facing unprecedented electric bills due to this summer's relentless heatwave, made a significant impact. Through this program, PNM provided much-needed assistance to over 4,100 customers, totaling more than $600,000 in aid towards a record-setting energy usage summer.

"We are deeply committed to the needs of our customers,” said Don Tarry, PNM President and Chief Executive Officer. “The PNM Summer Heat Bill Help Fund embodies our dedication to helping those who needed it most this summer. We understand the challenges faced when the weather results in unexpected bills and are happy this Fund was able to make a meaningful difference in the lives of thousands."

In addition to the PNM Summer Heat Bill Help Fund, PNM worked diligently to provide further financial assistance to its customers. Through the PNM Good Neighbor Fund, the company funded an additional $450,000 in financial support for eligible low-income customers. For those who didn't qualify for these programs, we introduced two additional options to alleviate the burden of high electric bills.

·         The company enrolled nearly 6,000 customers in the PNM Budget Billing program. This program evenly spreads out a customer's yearly usage, ensuring a consistent and manageable monthly payment, eliminating the guesswork associated with fluctuating bills.

·         PNM also offered more flexible and long-term payment plan options, allowing customers more time to pay their electric bills. As of September 30, 2023, nearly 7,700 customers are on a payment plan, providing them with greater financial breathing room when paying their PNM bill.

There is still help.

While the PNM Summer Heat Bill Help Fund has come to an end, customers still have several programs to help with their electric bill:

·         The PNM Good Neighbor Fund

·         The PNM Budget Billing program

·         The PNM Gift of Power where anyone can pay towards someone’s PNM bill to provide financial relief to family or friends. (All that is needed is the customer’s name and address, PNM will apply your payment to the intended customer.)

PNM remains committed to serving the community and listening to customer’s feedback. The PNM Summer Heat Bill Help Fund, along with these additional programs, underscores the company’s dedication to making a positive impact in the community, particularly when our customers need it most.

About PNM

With headquarters in Albuquerque, PNM is the largest electricity provider in New Mexico, serving nearly 550,000 customers in dozens of communities across the state. PNM strives to create enduring value for customers, communities and shareholders built on a foundation of Environmental, Social and Governance Principles. At the core of our business, we are focused on our vision of creating a clean and bright energy future, our purpose of working together with our customers and community to serve their energy needs, and our values of safety, caring, and integrity. Visit PNM.com for more information.