FERC last week approved an uncontested settlement agreement granting Public Service Company of New Mexico a 10% base return on equity on its transmission operations.

The settlement on PNM’s cost-of-service transmission formula rate was signed by Navopache Electric Cooperative, El Paso Electric, the Navajo Tribal Utility Authority, the Tri-State Generation and Transmission Association and the Western Area Power Administration (ER13-685, ER13-687, ER13-690).

PNM filed the settlement agreement in March 2015.

– Tom Kleckner