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) March 7, 2000
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February 22, 2000
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PUBLIC SERVICE COMPANY OF NEW MEXICO
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(Exact name of registrant as specified in its charter)
New Mexico Commission 85-00019030
--------------------------- File Number 1-6986 ----------------------
(State or Other Jurisdiction ------ (I.R.S. Employer
of Incorporation) Identification) Number)
Alvarado Square, Albuquerque, New Mexico 87158
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(Address of principal executive offices) (Zip Code)
(505) 241-2700
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(Registrant's telephone number, including area code)
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(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Event
The following is the Company's press release and is being filed herewith as a
current event.
PNM Subsidiary Announces Technology Partnership with Sandia National Labs
Albuquerque, N.M., February 22, 2000 - Energy services provider Avistar Inc., a
subsidiary of PNM, Public Service Company of New Mexico (NYSE:PNM), has entered
into an agreement with Sandia National Laboratories to jointly develop and
market new risk and reliability software for private industry.
The technology partnership agreement was concluded in a formal signing ceremony
at Sandia Labs in Albuquerque on Monday, February 21. Under the terms of the
agreement, Sandia will collaborate with Avistar to further develop and
commercialize the reliability analysis software. Avistar will be the sole source
for marketing, with the labs receiving a royalty on future sales. Financial
terms of the partnering agreement were not disclosed.
The new software uses statistical analysis of equipment failure rates, repair
times and costs to create efficient preventive maintenance schedules and spare
parts inventories. Now under evaluation at PNM's San Juan Generating Station,
near Farmington, New Mexico, the system has the potential to lower maintenance
costs and reduce unplanned outages at the plant.
The software has a wide range of applications outside the electric power
industry, according to Avistar President Blake Ridgeway. "Any industrial process
can benefit from having more precise predictability as to when machinery may
fail and what the cost of repair will be in downtime and parts replacement.
Based on that information, it's possible to make much more cost-effective
decisions on maintenance schedules, spare parts inventories, and even in the
design of new equipment."
Avistar, a wholly-owned subsidiary of PNM, operates an advanced meter servicing
business in California and Nevada and offers energy and water management
solutions for government and institutional clients in the Southwest. Avistar is
also assisting e-commerce company AMDAX.com in launching an Internet-based
energy auction system.
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. The
company's stock is traded primarily on the NYSE under the symbol PNM. More
information about the company is available at www.pnm.com
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PUBLIC SERVICE COMPANY OF NEW MEXICO
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(Registrant)
Date: March 7, 2000 /s/ John R. Loyack
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John R. Loyack
Vice President, Corporate Controller
and Chief Accounting Officer
(Officer duly authorized to sign this report)
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