PUBLIC SERVICE CO OF NEW MEXICO

PNM Energy Transition Bond Company I, LLC operates as a special-purpose financing entity and issuing entity organized under Delaware law. The company functions as a wholly-owned subsidiary of Public Service Company of New Mexico, which serves as its sponsor, depositor, and servicer, and is ultimately owned by parent entity TXNM Energy, Inc. Its primary business activities involve acquiring energy transition property pursuant to purchase and sale agreements, entering into servicing and administrative arrangements with its parent utility, and issuing energy transition bonds under indenture agreements. Through these structured financing agreements, the entity facilitates the securitization and administration of energy transition property alongside institutional trustees and intermediaries.

The entity maintains its principal executive offices in Albuquerque, New Mexico, sharing its operational location with Public Service Company of New Mexico. As a specialized financing issuer, the business does not maintain retail stores or regional facilities beyond this administrative address. Its operations are located entirely within the United States.

Summary of the business section of Public Service Co Of New Mexico's latest annual report, written by StockData.

“As of December 31, 2025, PNM had 389 employees in its power plant and operations areas that are currently covered by a collective bargaining agreement with the IBEW Local 611 that is in effect through April 30, 2026.”