PNMR's electric utilities are PNM and TNMP. PNMR was incorporated in the State of New Mexico in 2000. This information includes news releases, notices of webcasts, and filings with the SEC. Service to retail electric customers is subject to the jurisdiction of the NMPRC. PNM expects participation in the EIM will provide substantial cost savings to customers. PNM is also entitled to the entire output from 130 MW of NMRD-owned solar facilities. At that same time, an agreement to restructure the ownership in SJGS became effective. The contract provides for pricing adjustments over its term based on economic indices. Substantially all of PNM's natural gas costs are recovered through the FPPAC. For enrichment services 100% is contracted through 2022 and 80% through 2026. See Note 16 for information concerning these actions. The liabilities under these laws and regulations can be material. The Company's value of safety has been evident in our response to COVID-19. On July 24, 2020, the NM Supreme Court issued an order denying WRA's motion to dismiss. Certain of the Company's systems are interconnected with external networks. PNM and TNMP take proactive steps to mitigate wildfire risk. These factors could negatively impact results of operations and cash flows. PNMR is a holding company and has no operations of its own. Certain acquisitions of PNMR's outstanding voting securities also require FERC approval.
