PNM Becomes First Utility Worldwide to Deploy Industry-Leading Technology to Benefit Customers
- December 26, 2018
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ALBUQUERQUE, N.M., Dec. 26, 2018 /PRNewswire/ -- PNM, the wholly-owned New Mexico utility subsidiary of PNM Resources (NYSE: PNM), has become the first utility worldwide to implement leading-edge technology on its high-voltage transmission lines. A new type of protective relay, developed by Schweitzer Engineering Laboratories (SEL), provides significant enhancements to the reliability and functionality of the PNM grid. This advanced technology improves service to customers while reducing annual maintenance costs.
PNM and SEL used digital simulations to test the new technology under real-life operating scenarios with numerous variables before implementing the new relays on a 345kV transmission line in New Mexico. The implementation of this equipment and its standardized design across the PNM system eliminates the need for technicians to familiarize and troubleshoot various design configurations, reducing the time needed to restore power to customers after an outage and translating into lower maintenance costs to customers.
"We are proud to be the first utility to fully integrate this grid technology across our system," said Pat Vincent-Collawn, PNM Resources chairman, president and CEO. "This project is a clear example of how investment in technology to modernize and advance our infrastructure can improve the service we provide to customers while reducing costs."
More information about the use of this technology to modernize the PNM grid can be found on the SEL website at: www.selinc.com/featured-stories/pnm.
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2017 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,580 megawatts of generation capacity and provides electricity to more than 773,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release that relate to future events or PNM Resources, Inc.'s ("PNMR") or Public Service Company of New Mexico's ("PNM") (collectively, the "Company") expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR and PNM assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR and PNM caution readers not to place undue reliance on these statements. PNMR's and PNM's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.
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SOURCE PNM Resources, Inc.