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PNM ANNOUNCES INTENT TO SELL 40 MW PORTION OF SAN JUAN GENERATING STATION UNIT 4

 PNM ANNOUNCES INTENT TO SELL 40 MW PORTION
 OF SAN JUAN GENERATING STATION UNIT 4
 ALBUQUERQUE, N.M., Aug. 11 /PRNewswire/ -- Public Service Co. of New Mexico (NYSE: PNM) (PNM) today announced that the first major step has been completed in its sale of approximately 40 MW of ownership in San Juan Generating Station Unit 4 to the Utah Associated Municipal Power Systems (UAMPS).
 On July 15, 1992, the UAMPS board of directors granted its staff the authority to continue negotiations for the purchase from PNM. The purchase price is set at approximately $46 million ($1,140/KW). Because a final agreement has not been reached, detailed financial implications of the transaction have not yet been determined. However, the company expects benefits to be proportional to those it expects to realize from the pending 50 MW sale to the city of Anaheim, Calif.
 Closing of this transaction will depend upon completion of a definitive sale agreement and receipt of necessary regulatory approvals.
 -0- 8/11/92 R
 /CONTACT: Michael Temple, 505-848-2210, Pam Lett, 505-848-4673 or Ernie C'deBaca, 505-848-2806, all of Public Service Co. of New Mexico/
 (PNM) CO: Public Service Co. of New Mexico ST: New Mexico IN: UTI SU:


MC -- DV006 -- 9091 08/11/92 16:01 EDT
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Publication:PR Newswire
Date:Aug 11, 1992
Words:209
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