TNMP files base rate review, requests $2.8 bln rate base and 10.4% return on equity.

TNMP, a subsidiary of TXNM Energy, filed a base rate review on November 17, 2025, requesting a $2.8 billion rate base, a 10.4% return on equity, and a 47.54% equity ratio. The request reflects the company's significant growth over the past 7 years and includes increased operations and maintenance costs, changes in deferred federal income tax amortizations, and updates to depreciation rates. The current rates are based on a $835 million rate base, a 9.65% return on equity, and a 45% equity ratio.