As discussed in the combined Annual Reports on Form 10-K for the year ended December 31, 2008 of PNM Resources, Inc ("PNMR"), Public Service Company of New Mexico ("PNM"), and Texas-New Mexico Power Company ("TNMP"), the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements ("SFAS 160"), which is effective for fiscal years beginning after December 15, 2008. SFAS 160 changes the way companies measure and present an acquisition of a non-controlling (minority) interest and changes in a controlling interest. The statement requires non-controlling interests to be reported in equity and establishes a new framework for recognizing net income or loss and comprehensive income attributable to the controlling interest. PNMR and PNM adopted SFAS 160 as of January 1, 2009. The adoption of SFAS 160 retrospectively reclassifies amounts presented in the financial statements of PNMR and PNM. The adoption of SFAS 160 had no impact on PNMR's previously reported earnings (loss) per share or common stockholders' equity and had no impact on PNM's previously reported earnings (loss) available for common stock or common stockholder's equity. SFAS 160 had no impact on TNMP. Since PNMR, PNM, and TNMP file their Annual Reports on Form 10-K on a combined basis, TNMP financial information is included for the convenience of the reader to the extent it was included in the original items being re-filed with this Current Report on Form 8-K.

The retrospective application of SFAS 160 is set forth in the exhibits listed below, which are incorporated herein by reference. All other information in the 2008 Annual Reports on Form 10-K remains unchanged. This Current Report on Form 8-K and the exhibits below do not reflect events or developments that have occurred after March 2, 2009, and do not modify or update the disclosures therein in any way, other than as required to reflect the adoption of SFAS 160 by PNMR and PNM as described above and set forth in the exhibits below. The information herein should be read in conjunction with the 2008 Annual Reports on Form 10-K and any documents filed by PNMR and PNM since March 2, 2009.

(d) Exhibits:

Exhibit
Number   Registrant        Description

12.1    PNMR         Ratio of Earnings to Fixed Charges

12.2    PNM          Ratio of Earnings to Fixed Charges

23.1    PNMR         Consent of Deloitte & Touche LLP for PNM Resources, Inc.

23.2    PNM          Consent of Deloitte & Touche LLP for Public Service Company of
                     New Mexico

99.1    PNMR and PNM Items from Annual Reports on Form 10-K for the year ended
                     December 31, 2008 of PNMR and PNM reflecting the retrospective
                     adoption of SFAS 160 - Item 6. Selected Financial Data; Item 7.
                     Management's Discussion and Analysis of Financial Condition and
                     Results of Operation; and Item 8. Financial Statements and
                     Supplementary Data.