Embedding Sustainability

Electric Vehicle Fleet

TXNM Energy recognizes that electric vehicles provide an opportunity to reduce the environmental impact of transportation. As we transform PNM's generation resources to a cleaner energy portfolio, customers can feel good about charging their vehicles on the PNM system. Both PNM and TNMP consider the potential impact of greater electric vehicle adoption in planning for grid reliability and resiliency.

TXNM Energy is leading by example on electric vehicles with 47 electrified vehicles, including hybrids ranging from passenger cars to heavy duty trucks in our fleet, and 67 charging stations at company locations.

TXNM Energy has committed to 25% new light-duty procurements to be electric by 2025, and 50% of all new procurements will be electric vehicles by 2030.

PNM announced our partnership in 2021 with the National Electric Highway Coalition, committed to providing EV fast-charging ports across the country’s major roadways by the end of 2023.

In December 2021, PNM received regulatory approval for our inaugural Transportation Electrification Program (TEP). The TEP is designed to accelerate the adoption of electricity as a transportation fuel source by providing financial support which can be used to offset the upfront capital investment required to install EV chargers and supporting infrastructure. The TEP provides EV charger rebates and infrastructure incentives for residential and non-residential customers, and our pilot EV charging rates are expected to increase the efficient use of the electric system by shifting a substantial amount of new charging load to off-peak hours. The electrification of transportation and the more efficient use of PNM’s electrical system are expected to have substantial environmental and sustainability impacts in the coming years.

In December 2022, PNM launched the Online Marketplace, Online Application Portal, and Trade Ally Network. The Online Marketplace provides customers with information regarding the benefits of electric vehicles and details for participating in the TEP. The Online Application Portal provides customers with the ability to apply for incentives and EV charging rates. Finally, the Trade Ally Network connects customers with qualified, electrical contractors who can install EV chargers at customer homes and businesses; these contractors are required to receive training in program requirements to facilitate customer participation in the TEP.

Additionally, PNM has designated one-quarter of the TEP budget to benefit low- to moderate-income (LMI) households and those in historically underserved areas of our service territory. These funds will be used to increase awareness and understanding of the financial and economic benefits of EV ownership, and we will partner with at least one community-based organization to assist with the education, marketing, and outreach components of the TEP for LMI customers. PNM is committed to facilitating a transportation electrification revolution that is available to everyone.

PNM provides support to customers wanting to make the switch to cleaner vehicles. Read more here.

Sustainability Research and Tools

TXNM Energy recognizes that expectations regarding commitments to sustainability and the demonstration of sustainable business practices are rising among our stakeholders, including customers, investors, employees, and other industry stakeholders.

To help us advance corporate sustainability strategy and drive through our economic, environmental and social responsibilities, TXNM Energy funds various electric utility‐centric sustainability research efforts through EPRI, a non‐profit organization for public interest energy and environmental research.

As a result of the clean energy transformation and our commitment to become emissions-free by 2040, TXNM Energy has continued funding and expanded our participation in EPRI programs. These programs are focused on strategic science, energy and climate policy; understanding the physical impacts of climate change on the power system; and identification, measurement and reporting of greenhouse gas emissions. EPRI’s research also evaluates key clean energy technology trends, including insights from new research on deep decarbonization pathways. Their programs have provided TXNM Energy with valuable insights, information and tools to affirm that our 100% carbon‐free goal sets us on a course that aligns with the carbon emissions associated with international climate goals and our desire to be a truly sustainable company.