The regulatory approval is based on an agreement reached with all parties that will allow for the recovery of $113.4m, including about $66.3m of capital, through a surcharge during the next 12 years.
TNMP will install up to 240,000 meters beginning this year through 2016, the company said.
US-based PNM Resources is an energy holding company, with 2010 consolidated operating revenues of about $1.7bn.
