Even with its share of the woes from the spotty operating record of Palo Verde Nuclear Plant last year, Albuquerque, NM-based PNM Resources Wednesday reported a 15.4% increase in ongoing earnings for 2006 — $122 million, or $1.80/diluted share, compared with $67.7 million, or $1.56/share, in 2005. The Twin Oaks power plant in Texas accounted for 19% of the ongoing earnings per share, according to PNM, while New Mexico utility results were modest.
Spotty
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Tentative Pickup in Cooling Load Spurs Moderate Gains
Reports of rising power generation load for gas as spring temperatures continue to go up were spotty Tuesday, but there apparently was enough demand to prompt moderate spot price firmness in the face of major weakness in the energy futures complex the day before.
May 12, 2004
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