UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITES EXCHANGE ACT OF 1934
Date of Report (Date of earliest events reported) December 27, 2000
------------------
December 19, 2000
------------------
PUBLIC SERVICE COMPANY OF NEW MEXICO
(Exact name of registrant as specified in its charter)
New Mexico 85-0019030
--------------------------- Commission ----------------------
(State or Other Jurisdiction File Number 1-6986 (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, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 9. Regulation FD Disclosure
The following is a press release issued by the Company on December 19, 2000 and
is being filed herewith as a Regulation FD Disclosure.
PNM Subsidiary To Invest $10 Million in Internet Gateway Services Company
ALBUQUERQUE, N.M. December 19, 2000 - Avistar Inc., a subsidiary of PNM, Public
Service Company of New Mexico(NYSE: PNM), has acquired a $10 million stake in
MainStreet Networks, an Internet Gateway Service Provider based in California's
Silicon Valley.
In partnership with local utilities, MainStreet Networks plans to provide
low-cost Internet-based services to homes through an Internet gateway attached
at the customer's electric meter. Using that connection with a small touch
screen display device that operates like an ATM (Automated Teller Machine),
customers will be able to send and receive e-mail messages, shop online, and
access national news and customized community content.
"MainStreet Networks has the potential to close the `digital divide' between PC
haves and have-nots, particularly in America's smaller towns and rural
communities," said Blake Ridgeway, the PNM senior vice president who heads
Avistar. "As an easy-to-use, affordable alternative to the personal computer,
the MainStreet Networks Service can deliver the power of the Internet, without
the complexity of the Internet, to millions of new customers."
The MainStreet Networks gateway is also capable of providing a number of other
electronic services through the same connection, including automated meter
reading, long distance call management, and remote monitoring of the home
environment.
"MainStreet Networks represents the kind of transforming, market-oriented
application of advanced technology that Avistar is seeking to participate in,"
Ridgeway said. Under the terms of the agreement, Avistar will acquire a 5
percent ownership interest in MainStreet Networks.
2
<PAGE>
A wholly-owned subsidiary of PNM, Avistar operates a number of energy-related
businesses, including AXON FieldSolutions, a California-based provider of meter
services and meter data management services, and Reliadigm, a
reliability-solutions provider for capital-intensive industries. PNM also
operates a combined electric and gas utility serving approximately 1.3 million
people in New Mexico and sells power on the wholesale market. PNM stock is
traded primarily on the NYSE under the symbol PNM. For more information about
Avistar, visit the company's web site at www.avistarinc.com Statements made in
this news release that relate to future events are made pursuant to the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
based upon current expectations and the company assumes no obligation to update
this information. Because actual results may differ materially from
expectations, the company cautions readers not to place undue reliance on these
statements. For a detailed discussion of the important factors affecting PNM,
please see "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in the Company's Form 10-K for the year ended December
31, 1999, Form 10-Q for the quarter ended September 30, 2000 and Form 8-K
filings with the Securities and Exchange Commission.
3
<PAGE>
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 thereunto duly authorized.
PUBLIC SERVICE COMPANY OF NEW MEXICO
(Registrant)
Date: December 27, 2000 /s/ John R. Loyack
------------------------------------
John R. Loyack
Vice President, Corporate Controller
and Chief Accounting Officer
(Officer duly authorized
to sign this report)
4
