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PNM SETTLES SUITS WITH GAS PRODUCERS

 ALBUQUERQUE, N.M., April 7 /PRNewswire/ -- On Thursday, April 1, 1993, Public Service Co. of New Mexico (NYSE: PNM) (PNM) settled lawsuits with three natural gas producers. As a result of this settlement, PNM paid a total of $39 million to Amoco Production Co., Conoco Inc., and Robert R. Click et. al.
 In accordance with a New Mexico Public Service Commission order, 75 percent of the majority of these settlement costs are eligible for recovery through a rate rider as take-or-pay costs and the remainder are eligible for recovery in full upon review by the Commission. PNM expects to seek adjustment of its rate rider in June 1993, which would enable recovery to begin over a minimum of five years beginning the following month.
 -0- 4/7/93
 /CONTACT: Michael Temple, 505-848-2210 or Sam Brothwell, 505-848-2287, both of Public Service Co. of New Mexico/
 (PNM)


CO: Public Service Co. of New Mexico ST: New Mexico IN: UTI SU:

MC -- DV002 -- 0258 04/07/93 11:49 EDT
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Publication:PR Newswire
Date:Apr 7, 1993
Words:167
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