UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest events reported) June 18, 2004
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(June 14, 2004)
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Commission Name of Registrants, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
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333-32170 PNM Resources, Inc. 85-0468296
(A New Mexico Corporation)
Alvarado Square
Albuquerque, New Mexico 87158
(505) 241-2700
1-6986 Public Service Company of New Mexico 85-0019030
(A New Mexico Corporation)
Alvarado Square
Albuquerque, New Mexico 87158
(505) 241-2700
______________________________
(Former name, former address and former fiscal year,
if changed since last report)
Item 9. Regulation FD Disclosure
RECENT DEVELOPMENTS
Palo Verde Nuclear Generating Station Shutdown. On June 14, 2004, a
transmission system problem in Arizona resulted in the shutdown of several
generating units in the Maricopa County area, including the three units at the
Palo Verde Nuclear Generating Station ("PVNGS") located west of Phoenix. Arizona
Public Service Company is the operator of PVNGS, and PNM has a 10.2% interest in
the 3900 megawatt station. The PVNGS units were not damaged as a result of the
shutdown. PNM expects that the PVNGS units will be returned to service over the
next several days, subject to completion of plant reviews. PNM has been able to
cover its loads with other resources, and the shutdown has not had a material
adverse effect on the Company.
New Mexico Attorney General Petition. On June 14, 2004, the New Mexico
Attorney General filed a Petition for Investigation with the New Mexico Public
Regulation Commission ("NMPRC") seeking an investigation into the circumstances
involving PNM that led to the decision of the Securities and Exchange Commission
("SEC") Staff to require PNM Resources to become a registered holding company.
The Attorney General seeks to determine the impact of registration on PNM and
its customers and whether any of the conditions in the order authorizing the
holding company need to be changed or the order otherwise reconsidered. PNM has
suggested that the NMPRC put this item on a working session agenda so that PNM
could explain further and answer any questions that anyone might have. The
Company cannot predict the ultimate outcome of the Attorney General's Petition
but does not believe that it will result in any material adverse effect on the
Company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this filing and documents the Company files with the SEC that
relate to future events or the Company's expectations, projections, estimates,
intentions, goals, targets and strategies are made pursuant to the Private
Securities Litigation Reform Act of 1995. You are cautioned that all
forward-looking statements are based upon current expectations and estimates and
the Company assumes no obligation to update this information. Because actual
results may differ materially from those expressed or implied by the
forward-looking statements, PNM Resources cautions you not to place undue
reliance on these statements. Many factors could cause actual results to differ,
and will affect the Company's future financial condition, cash flow and
operating results. These factors include interest rates, weather, fuel costs,
changes in supply and demand in the market for electric power, wholesale power
prices, market liquidity, the competitive environment in the electric and
natural gas industries, the performance of generating units and transmission
system, state and federal regulatory and legislative decisions and actions, the
outcome of legal proceedings and the performance of state, regional and national
economies. For a detailed discussion of the important factors that affect PNM
Resources and that could cause actual results to differ from those expressed or
implied by our forward-looking statements, please see "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in the Company's
current and future Annual Reports on Form 10-K and Quarterly Reports on Form
10-Q and the Company's current and future Current Reports on Form 8-K, filed
with the SEC.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PNM RESOURCES, INC. AND
PUBLIC SERVICE COMPANY OF NEW MEXICO
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(Registrants)
Date: June 18, 2004 /s/ Thomas G. Sategna
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Thomas G. Sategna
Vice President and Corporate Controller
(Officer duly authorized to sign this report)
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