No changes expected locally IN PNM NATURAL GAS SALE Jan 19, 2008
GRANTS - PNM Resources and Continental Energy Systems have agreed upon a win-win situation ... This will allow PNM to concentrate on the electric business in New Mexico and Texas, said Pat Vincent, PNM Resources Utilities president. (Grants Cibola County Beacon, NM)
PNM to sell natural gas business to Continental Energy Jan 17, 2008
Meanwhile, in a separate, smaller transaction, PNM Resources (NYSE: PNM) has agreed to pay $202 million to Continental to purchase , a regulated Texas electric business with 36,000 customers in north, central and West Texas. That transaction will be reviewed by the Public Utility Commission of Texas and the Federal Energy Regulatory Commission. (New Mexico Business Weekly, NM)
PNM to sell natural gas division for $620 million Jan 15, 2008
The Albuquerque Journal reports in a copyright story that Continental Energy Systems is buying Albuquerque-based PNM Resources. It says the deal would have to be approved by state and federal regulators. (KSLA.com, LA)
Energy joint venture names CEO Nov 27, 2007
Prior to joining CPG, Loyack was senior vice president and chief financial officer for PNM Resources and held a variety of leadership capacities for Union Pacific Corp.. He cited the tremendous potential for growth within the Texas energy market and the commitment of EnergyCo's owners to its success as factors in his decision to accept the position. (Dallas Business Journal, TX)
Arizona Nuclear Plant Sealed Off Due to Pipe Bomb Nov 5, 2007
8 percent), PNM Resources Inc's Public Service Co of New Mexico (10. 2 percent), Southern California Public Power Authority (5. (Planet Ark, United States)
NARUC Convention Focuses on Climate Change, Energy Efficiency, Digital TV Oct 13, 2007
Speakers at this year's Annual Convention include Federal Energy Regulatory Commission Chairman Joseph Kelliher, National Association of State Utility Consumer Advocates President John Perkins of Iowa, Cox Communications Chairman Patrick Esser, Edison Electric Institute Chairman and President, CEO, and Chairman of PNM Resources Jeff Sterba, Chairman and CEO of Embarq Dan Hesse, and CEO of Duke Energy Jim Rogers. NARUC's various committees will hold meetings from Nov. 11-12 to discuss policy and... (PR Newswire)
Convergence of Smart Metering And the Smart Grid Oct 10, 2007
Jeff Sterba, CEO of PNM Resources, recently stated, for example, that construction budgets for his company over the next five years should be about 2 times what was expended over the same previous period, and that such increases may require a greater reliance on debt and equity financing. Financing these projects from current revenues has become less of an option. (Energy Pulse, CO)
Power To The People Sep 28, 2007
The eight companies--Con Edison (nyse: - - ), Duke Energy (nyse: - - ), Edison International (nyse: - - ), Great Plains Energy (nyse: - - ), Pepco Holdings (otcbb: - - ), PNM Resources (nyse: - - ), Sierra Pacific Resources (nyse: - - ) and Xcel Energy (nyse: - - )--said they were making a decade-long commitment to what they called the "greatest untapped resource in addressing global climate change in the near-term," with initial investments totaling around $1 billion a year for the next three... (Forbes)
Texans' appetite for electricity to yield big profits for investors Sep 19, 2007
Texas has "the best market structure that I've seen in the United States," said Jeff Sterba, chief executive at PNM Resources, the owner of the biggest utility in New Mexico. PNM and Cascade announced in November a joint venture to build and acquire power assets in Texas and other states in the Southwestern United States. (International Herald Tribune -- Business)
PNM awards $200,000 in grants to teachers Sep 19, 2007
PNM's parent, PNM Resources (NYSE: PNM), invites full-time, pre-kindegarten to 12th-grade teachers to submit project ideas for consideration by March 5th of each year. Grants are announced in the spring and the programs are implemented starting in the fall. (New Mexico Business Weekly, NM)
Buffett, Gates, Pickens Exploit Scarce Texas Electricity, Roil Consumers Sep 18, 2007
Texas has ``the best market structure that I've seen in the United States,'' said Jeff Sterba, chief executive officer at Albuquerque, New Mexico-based PNM Resources Inc., the owner of New Mexico's biggest utility. PNM and Cascade, an investment vehicle for Microsoft Corp. co-founder Gates, announced in November a joint venture to build and acquire power assets in Texas and other Southwest states. (Bloomberg)
Carbon Dating Sep 7, 2007
Earlier this year, big corporations--and greenhouse gas emitters--including ConocoPhillips (nyse: - - ), PNM Resources (nyse: - - ) and Ford Motor Company (nyse: - - ) teamed up with the National Wildlife Federation, the Natural Resources Defense Council and other environmental groups to form the United States Climate Action Partnership, which advocates a cap-and-trade system. The group now boasts 30 members, including NRG.. (Forbes -- Business)
Electricity co. plans move to Irving Aug 18, 2007
PNM Resources (NYSE: PNM) later acquired First Choice and its affiliate, Texas-New Mexico Power, in 2005. Weiser, who declined to disclose market share, said the provider's customer base doubled in the past year and is continuing to see rapid growth. (Dallas Business Journal, TX)
Economic analysis made for CO2 cuts Aug 14, 2007
Top executives from Duke Energy Corp., PNM Resources Inc. and American Electric Power Company Inc. have urged lawmakers to give them enough flexibility to cut emissions at an affordable cost. Revis James, one of the EPRI report's authors, said it would be difficult but possible for the electric power industry to cut back on its share of greenhouse gas emissions, which make up about one-third of total U.S. emissions. (MSNBC -- Environment)
Sterba elected Edison Electric Institute chairman Jun 22, 2007
Sterba has been with PNM Resources -- the parent company for -- for nearly three decades. Originally employed by PNM in 1977, he held a variety of positions until he left the company in 1998 to become executive vice president of , a global energy company headquartered in Maryland. (New Mexico Business Weekly, NM)
Regulators must consider refunds from energy crisis Jun 19, 2007
The companies that asked the Supreme Court to review the 9th Circuit decision included units of AES Corp., PPL Corp., Powerex Corp., PNM Resources, Puget Energy and Sempra Energy. Companies including Dynegy, El Paso Corp., Williams Cos. (San Diego Union-Tribune -- Business)
Ikard named chair-elect of chamber board Jun 15, 2007
Ikard replaces Pat Vincent, who is leaving Xcel Energy to become president of utilities for PNM Resources in Albuquerque, N.M. Vincent served as president and CEO of Public Service Company of Colorado, an Xcel Energy company. Ikard will begin his one-year term on Sept. 1. (Denver Business Journal, CO)
The Utility Industry's Approach to Global Climate Change May 24, 2007
EPRIs Chairman who is PNM Resources CEO Jeff Sterba, and EPRIs President and CEO, Steven Specker, have recently made presentations on this approach and the principal technologies that they include are energy efficiency, renewables, nuclear, carbon capture and sequestration and plug-in hybrid vehicles ... (3) Sterba, Jeff, Technology Needs for a Carbon-Constrained World, CERAWeek 2007, PNM Resources, Feb 15, 2007. (Energy Pulse, CO)
Tuesday's Stocks to Watch May 8, 2007
PNM Resources Inc.'s () first-quarter net income rose 14 percent to $30 million, or 38 cents a share, from $26. 3 million, or 38 cents a share, a year earlier. (Fox News)
U.S. industry plan to cut greenhouse gases criticized May 3, 2007
U.S. CAP was formed this year by Alcoa, BP America, Caterpillar , Duke Energy, DuPont , FPL Group, General Electric, PG&E , PNM Resources and Lehman Brothers Holdings. The oil companies Shell and ConocoPhillips and the insurance company AIG joined in recent weeks. (International Herald Tribune -- Money Report)
US Corporate Climate Plan May Need Carbon Tax Cues May 3, 2007
US CAP was formed early this year by Alcoa Inc., BP America Inc., Caterpillar Inc., Duke Energy, DuPont Co., FPL Group, General Electric Co., PG., PNM Resources Inc. and Lehman Brothers Holdings Inc.. Oil companies Shell and ConocoPhillips and insurance company AIG joined in recent weeks. (Planet Ark, United States)
Optics Industry Association honors Guenther Apr 21, 2007
Carol Radosevich -- economic development director with PNM Resources Inc.'s (NYSE: PNM) -- will also address NMOIA members on the success of the incentives for jobs legislative package and what it means for the future of technology industries in New Mexico. The luncheon runs from 11:30 a.m. to 1 p.m. at the Rotunda Room at the UNM Science and Technology Park at 801 University Blvd. S.E. Cost is $15 for members and $20 for nonmembers. (New Mexico Business Weekly, NM)
PNM wins award for customer service Apr 10, 2007
Based in Albuquerque, PNM, which is a wholly owned subsidiary of PNM Resources (NYSE: PNM), won in the small company category. Both and (NYSE: SACPR) were chosen in the medium category, and , (NYSE: EHA) and Southern Company (NYSE: SO) were picked in the large category. (New Mexico Business Weekly, NM)
A Global Warming Wish List Mar 29, 2007
That is why the U.S. Climate Action Partnership (USCAP) a coalition of U.S.-based businesses (including Alcoa, BP America, Caterpillar, Duke Energy, DuPont, FPL Group, General Electric, Lehman Brothers, PG PNM Resources) and environmental organizations has called for quick legislative action to slow, stop and reverse greenhouse gas emissions. The group said any delay in mandatory, economy-wide climate protection "increases the risk of unavoidable consequences that could necessitate even... (CBS News)
Utility executives give guarded support to global warming legislation Mar 21, 2007
Rogers and Jeffry Sterba, chairman of PNM Resources Inc., based in Albuquerque, N.M., favor a cap-and-trade climate bill, arguing that it can be fashioned to keep costs under control. Most of the other executives said that while they did not oppose the concept, their support would depend on the details. (AZCentral -- News)
TXU Has Competitors Mar 2, 2007
New Jersey-based NRG Energy (nyse: - - ) and Albuquerque, N.M.'s PNM Resources (nyse: - - ) are moving forward with their own plans to expand existing coal plants in Texas in an effort to meet the state's immediate power needs. In addition, several companies, including TXU, appear to be banking on the probability that they will be able to build new nuclear power plants in Texas within the next decade. (Forbes)
Hurdles in $32B deal Feb 26, 2007
Gates' Cascade Investments last fall formed a joint venture with PNM Resources, a New Mexico utility, to buy and build power plants. "They bring a level of financial acumen as well as capital," says PNM CEO Jeff Sterba. (USA Today -- Money)
Local Lawmaker Drafts Additional Legislation On Coal-Fired Power Plants Feb 24, 2007
Dist.: 1 new coal unitFanin CountyValley (TXU): 1 new coal unitFreestone CountyBig Brown (TXU): 1 new coal unitLimestone CountyLimestone (NRG Energy): 1 new coal unitMcLennan CountyLake Creek (TXU): 1 new coal unitSandy Creek (LS Power): 1 new coal unitTradinghouse Creek (TXU): 2 new coal unitsMilam CountySandow (TXU): 1 new coal unitMitchell CountyMorgan Creek (TXU): 1 new coal unitNueces CountyProposed coal gasification plant, which is considered a cleaner technologyRobertson CountyOak Grove... (KWTX.com, TX)
US Business Braces for Battle on Climate Laws Feb 19, 2007
"I don't know it will happen in the next 18 months. There is a chance of it, but I'm not that optimistic," said Jeff Sterba, head of New Mexico utility PNM Resources Inc. "It will take longer to do and even longer to implement.". And even if Congress passes legislation, it would not likely take effect before 2012, Simon said. (Planet Ark, United States)
Utility group ready for carbon caps Feb 8, 2007
Those companies included utility firms Duke Energy Corp., PG&E Corp., FPL Group Inc., and PNM Resources Inc.. But the industry as a whole has traditionally opposed mandatory greenhouse emissions. (MSNBC -- Environment)
Read more... Feb 5, 2007
This unprecedented alliance, called the U.S. Climate Action Partnership (USCAP), consists of market leaders Alcoa, BP America, Caterpillar, Duke Energy, DuPont, FPL Group, General Electric, Lehman Brothers, PG PNM Resources, along with four leading non-governmental organizations Environmental Defense, Natural Resources Defense Council, Pew Center on Global Climate Change, and World Resources Institute. At a news conference at the National Press Club, USCAP issued a landmark set of principles... (PNN Online)
Global Warming Debate Shifts To Who Pays Feb 3, 2007
"I think there is a narrowing of view in the industry. It's not a matter of doing it, but when and how," says Jeffry Sterba, chairman of PNM Resources, an energy holding company based in Albuquerque, N.M., who supports mandatory carbon limits. MMVII, CBS Interactive Inc. All Rights Reserved. (CBS News)
Global Warming Debate Shifts to Costs Feb 3, 2007
"I think there is a narrowing of view in the industry. It's not a matter of doing it, but when and how," says Jeffry Sterba, chairman of PNM Resources, an energy holding company based in Albuquerque, N.M., who supports mandatory carbon limits. . (Atlanta Journal-Constitution -- Business)
Beware the eco-industrial complex (Steven Milloy) Jan 31, 2007
Just this week the so-called U.S. Climate Action Partnership (USCAP) announced its presence and called for "the federal government to quickly enact strong national legislation to require significant reductions of greenhouse gas emissions." USCAP members include: Alcoa, BP America , Caterpillar Inc., Duke Energy, DuPont, Environmental Defense, FPL Group, General Electric, Lehman Brothers, Natural Resources Defense Council, Pew Center on Global Climate Change, PG., PNM Resources, World Resources... (Washington Times, DC)
Congress moving on climate change Jan 29, 2007
" Industry groups are also pressuring policymakers. Ten leading companies -- including Alcoa, BP America, Caterpillar, DuPont, General Electric, Pacific Gas and Electric and even Duke Energy, one the nation's leading users of coal -- joined with four environmental groups last week to call for sweeping legislation, modeled on California's climate change laws, to limit emissions from every sector of the economy. Many of the companies believe greenhouse gas limits are inevitable, so they would... (San Francisco Chronicle -- Politics)
Eco-Industrial Complex Jan 26, 2007
USCAP members include: Alcoa, BP America , Caterpillar Inc., Duke Energy, DuPont, Environmental Defense, FPL Group, General Electric, Lehman Brothers, Natural Resources Defense Council, Pew Center on Global Climate Change, PG&E Corporation, PNM Resources, World Resources Institute. USCAP is obviously a politically and economically formidable group that plans to press Congress and the Bush administration hard for global warming regulation, including the ever-dubious of greenhouse gas emissions. (Fox News -- Views)
Time for CEOs to step up Jan 24, 2007
PNM Resources and San Francisco's PG.. Peter Darbee, PGairman and CEO, told me that he and other business leaders realize that global warming represents a serious threat to the planet and that action must be taken right away to address a key source of the problem -- emissions from power plants and factories. (San Francisco Chronicle -- Business)
Lobbying effort signals corporate climate change Jan 24, 2007
" That is particularly true for Duke Energy. About half of Duke's electricity comes from coal-fired power plants, which release more carbon dioxide than those burning natural gas. PGility, Pacific Gas and Electric Co., gets just 1 percent of its power from coal. The group's proposals call for any greenhouse gas restrictions to be "fair to those disproportionately impacted. " The partnership proposes: -- Setting targets for greenhouse gas reductions. Congress should mandate that annual carbon... (San Francisco Chronicle)
White House Downplays Emission Caps Talk Jan 24, 2007
The new coalition, called the United States Climate Action Partnership (USCAP), comprises 10 businesses -- Alcoa, BP America, Caterpillar, Duke Energy, DuPont, FPL Group, General Electric, Lehman Brothers, PGoration, and PNM Resources -- and four non-governmental organizations -- World Resources Institute, Natural Resources Defense Council, Pew Center on Global Climate Change and Environmental Defense. USCAP wants greenhouse gas emissions to be kept within five percent of current levels in five... (CNSnews.com)
Executives urge action on climate change Jan 23, 2007
Jeffrey Sterba, with PNM Resources, joined chief executives of 10 major corporations yesterday in urging President Bush to support mandatory reductions in climate-changing pollution. (Kevin Wolf/associated press). (Boston Globe)
Make companies reduce emissions, CEOs tell Bush Jan 23, 2007
Jeffry Sterba, chairman of PNM Resources, a New Mexico utility that is also part of the group, said it's better to act now on a "coordinated, economywide, market-driven approach" than to be forced to act in a "precipitous way" later ... Alcoa, BP America, DuPont, Caterpillar, General Electric, Duke Energy, Florida Power , PNM Resources, Pacific Gas ric, Lehman Brothers. (Seattle Times)
CEOs back pollution control Jan 23, 2007
PG&E , PNM Resources , FPL Group and four leading environmental organizations. At a news conference Monday, the executives said mandatory reductions of heat-trapping emissions can be imposed without economic harm and would lead to economic opportunities if done economy-wide and with provisions to mitigate costs. (USA Today -- Money)
Big Business Pushes Bush On Carbon Caps Jan 23, 2007
The group, called the U.S. Climate Action Partnership or USCAP, is made up of chief executives of Alcoa, BP America, Caterpillar, Duke Energy, DuPont, FPL Group, General Electric, Lehman Brothers, PG PNM Resources, along with four leading non-governmental organizations Environmental Defense, Natural Resources Defense Council, Pew Center on Global Climate Change, and World Resources Institute. Owens said corporations can help provide innovative solutions that will improve both the environment... (CBS News -- US)
Business group calls for federal greenhouse-gas curbs Jan 23, 2007
Members: Not Registered. for free extra services. (San Jose Business Journal, CA)
FPL joins group calling for action on climate change Jan 23, 2007
In addition to Juno Beach-based FPL Group (NYSE: FPL), USCAP corporate members include Alcoa, , Caterpillar, Duke Energy, DuPont, , , and PNM Resources. FPL has customers in all Northeast Florida counties except Duval. (Jacksonville Business Journal, FL)
FPL Group joins organization calling for swift action on climate change Jan 23, 2007
PG&E and PNM Resources. Involved non-governmental organizations include. (Orlando Business Journal)
CEOs plead for mandatory emissions caps Jan 23, 2007
We know enough to act now. " Eileen Claussen, president of the Pew Center on Global Climate Change, said the group intends to push the issue in Congress, urging lawmakers to address climate change as soon as possible. She said she expects other major corporations to join in the call. Fred Krupp, president of Environmental Defense, a member of the alliance, called the executives' support "a game changer" in the debate over climate. "We are asking Congress to not wait for a new administration and... (BusinessWeek)
* Tesco introduces environmentally friendly strategy Jan 21, 2007
The group, which is known as the US Climate Action Partnership, also includes Caterpillar Inc, PG FPL Group FPL, PNM Resources Inc, BP America Inc and Lehman Brothers Holdings Inc.. "Caterpillar believes in the need for a market-based approach to the aggressive development of current and future clean technologies that reduce emissions and sustain the environment," chief executive Jim Owens said in a statement. (Taipei Times, Taiwan -- World)
Top US firms to urge Congress to fight global warming Jan 21, 2007
USCAP also groups BP America, Caterpillar, Duke Energy, FPL Group, Lehman Brothers, energy group PG and E, PNM Resources and the non-governmental Environmental Defense group, the Natural Resources Defense Council, the Pew Center on Global Climate Change and the World Resources Institute. Large US corporations have begun showing heightened concerns about global warming in recent years, especially since Hurricane Katrina obliterated the Gulf coast city of New Orleans and wide swathes of Louisiana... (Business Report, South Africa)
Industry signals Bush to do more on global warming Jan 20, 2007
Called the U.S. Climate Action Partnership, the group includes aluminum giant Alcoa, BP America, Caterpillar, DuPont, General Electric, Lehman Brothers and four utilities with a big stake in climate policy: Duke Energy, FPL Group, PG&E and PNM Resources. (MSNBC.com is a joint venture of Microsoft and GE's NBC Universal unit. (MSNBC -- International)
Companies Press Bush, Congress on Climate Jan 20, 2007
The group, known as the United States Climate Action Partnership, also includes Caterpillar Inc., PG FPL Group, PNM Resources Inc., BP America Inc. and Lehman Brothers Holdings Inc. ... PNM Resources and Duke Energy derive a portion of their power generation from coal, but the other utilities in the group have little coal-fired generation. (FOX23 News, NY)
GE, Lehman to Call for Emissions `Cap and Trade' System Before Bush Speech Jan 20, 2007
Members of the new coalition, dubbed the U.S. Climate Action Partnership, include Peoria, Illinois-based Caterpillar Inc., the world's largest maker of earthmoving equipment, and electric utilities including Charlotte, North Carolina-based Duke Energy Corp., San Francisco-based PG&E Corp., Juno Beach, Florida-based FPL Group Inc. and Albuquerque, New Mexico-based PNM Resources Inc.. Wilmington, Delaware-based DuPont Co., the third-largest U.S. chemical maker, and New York-based Alcoa Inc., the... (Bloomberg -- US)
Businesses try to outpace U.S. regulators on emissions Jan 19, 2007
Aside from General Electric and Alcoa, Caterpillar is the leading manufacturing company among the group, which also includes four utilities Duke Energy, based in North Carolina; PGCalifornia; FPL Group, of Florida, and PNM Resources, of New Mexico ... But Jeff Sterba, the chief executive of PNM Resources, whose company gets about two- thirds of its power from coal and is a member of the coalition, explained why he supports such an approach. (International Herald Tribune -- Business)
Environmental Groups To Ask Legislature To Slow Down Coal Plant Plans Jan 5, 2007
Bexar CountyJ. K. Spruce (CPS Energy): 1 new coal unitCalhoun CountyFormosa Plastics: 1 new coal unitFanin CountyValley (TXU): 1 new coal unitFreestone CountyBig Brown (TXU): 1 new coal unitLimestone CountyLimestone (NRG Energy): 1 new coal unitMcLennan CountyLake Creek (TXU): 1 new coal unitSandy Creek (LS Power): 1 new coal unitTradinghouse Creek (TXU): 2 new coal unitsMilam CountySandow (TXU): 1 new coal unitMitchell CountyMorgan Creek (TXU): 1 new coal unitRobertson CountyOak Grove (TXU): 2... (KWTX.com, TX)
