Public Service Company of New Mexico, a wholly-owned subsidiary of TXNM Energy, on Nov. 11 announced its plan to join the California Independent System Operator Extended Day-Ahead Market.
EDAM is a voluntary day-ahead regional market, expanding on CAISO's real-time regional market known as the Western Energy Imbalance Market, which PNM has been a participant of since 2021.
EDAM is expected to provide $20 million in annual benefits to New Mexico customers, TXNM Energy said.
While EDAM is scheduled to launch in 2026, PNM hopes to begin participation as early as 2027.
PNM's decision comes after the New Mexico Public Regulation Commission issued a statement of policy and guiding market principles for regional market participation based on a series of inquiries and workshops this year to discuss potential participation by New Mexico utilities in a day-ahead regional market, including a presentation from The Brattle Group.
TXNM Energy, an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM.
