• PNM Resources' PNM unit and the Federal Energy Regulatory Commission have settled a 2010 transmission rate case.
• It is a "black-box" settlement that sets a revenue number but no return on equity, and PNM said only that it is "less than the $9.6 million requested."
• PNM had been billing based on the rate structure, and the settlement will not affect retail customers' rates. PNC will file a formula-based rate request when it gets the official approval of the settlement, which FERC agreed it will approve.

From the article:

PNM Resources' New Mexico utility, PNM, has filed an agreement with the Federal Energy Regulatory Commission (FERC) that would settle its transmission rate case submitted in October 2010. ...