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TEXAS-NEW MEXICO POWER COMPANY FILES FOR BASE RATE INCREASE IN NEW MEXICO

 FORT WORTH, Texas, Aug. 27 /PRNewswire/ -- Texas-New Mexico Power Company (NYSE: TNP) filed an application for a base rate increase with the New Mexico Public Utility Commission on Aug. 23, 1993.
 The proposal would increase the company's base rate revenues in New Mexico by approximately $1.95 million, or 2.87 percent. The application includes an overall rate decrease of approximately $5.13 million in annual revenues because the company has modified its purchased power arrangements, which will result in the reduction of the cost of purchased power. The overall rate decrease is influenced by the fact that a large part of the total revenue requirements is related to the cost of purchased power.
 The application as filed proposes rates that have two very positive aspects. First, it allows the company to recover through the increase in base rates the current operating cost of providing service to our customers in New Mexico including a reasonable return on the company's investments. Secondly, it lowers overall rates charged to our New Mexico customers. Hearings before the Commission on the proposed base rate increase are expected to begin later this year, with the proposed rates to be effective in 1994.
 Texas-New Mexico Power Company, an electric utility serving 90 towns and cities with 211,000 customers in Texas and New Mexico, is the principal, wholly owned subsidiary of Fort Worth-based TNP Enterprises, Inc.
 -0- 8/27/93
 /CONTACT: D.R. Barnard of Texas-New Mexico Power Co., 817-731-0099, ext. 319/
 (TNP)


CO: Texas-New-Mexico Power Company ST: Texas IN: OIL SU:

WB -- NY020 -- 6556 08/27/93 10:49 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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