SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 8, 1995
(November 20, 1995)
PUBLIC SERVICE COMPANY OF NEW MEXICO
(Exact Name of Registrant as Specified in its Charter)
Commission
New Mexico File Number 1-6986 85-0019030
State or Other Jurisdiction (I.R.S. Employer
of Incorporation) Identification Number)
Alvarado Square, Albuquerque, New Mexico 87158
(Address of Principal Executive Offices) (Zip Code)
(505) 241-2700
(Registrant's Telephone Number, Including Area Code)
(Former Name or Former Address if Changed, Since Last Report)
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ITEM 5. Other Events
Palo Verde Nuclear Generating Station ("PVNGS")
As previously reported, on January 11, 1993, the Company announced specific
actions determined to be necessary in order to accelerate the Company's
preparation for the new challenges in the competitive electric energy market. In
its announcement, the Company stated its intention to dispose of excess electric
generating capacity not needed by New Mexicans, including, if possible, some or
all of the Company's share of PVNGS. The Company specifically stated its
intention to attempt to sell its interest in PVNGS Unit 3, resulting in an
after-tax charge against 1992 earnings. (See PART II, ITEM 7.-- "MANAGEMENT'S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS--OVERVIEW-- Specific Actions by the Company" in the Company's Annual
Report on Form 10-K for the year ended December 31, 1994.)
Since the January 1993 announcement, the Company has been unsuccessful in
disposing of its interests in PVNGS and has concluded that the prospects of
being successful in disposing of its interests in PVNGS in the foreseeable
future are highly unlikely. As a result, the Company's Board of Directors (the
"Board'), at its December 5, 1995 meeting, confirmed that it is in the best
interest of the Company at this time to focus its efforts and resources on
maximizing shareholder value from PVNGS as an asset (leased and owned) of the
Company rather than disposing of it. Growth in the region, rapid growth in the
Company's own local service territory and the continuously improving operating
performance of the plant this year were all factors in the change of policy. The
Board stated that the Company no longer considers it to be a goal to dispose of
its interests in PVNGS.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Public Service Company of New Mexico
(Registrant)
Date: December 8, 1995 /s/ Donna M. Burnett
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Donna M. Burnett
Corporate Controller and
Chief Accounting Officer
