| UNITED STATES                                                     |
|-------------------------------------------------------------------|
| SECURITIES AND EXCHANGE COMMISSION                                |
| Washington, D.C.  20549                                 |
|                                                              |
| FORM 10-Q/A(Amendment No.1)                                       |
| (Mark One)                                                        |
|  [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE |
| SECURITIES EXCHANGE ACT OF 1934                                   |
|                                                              |
| For the quarterly period ended March 31, 2009                     |
|                                                              |
|                                                              |
|                                                              |   |   |   |   |
| Commission                                                        |   | Name of Registrant, State of Incorporation, |   | I.R.S. Employer |
| File Number                                                       |   | Address and Telephone Number |   | Identification No. |
| 002-97230                                                         |   | Texas-New Mexico Power Company |   | 75-0204070 |
|                                                              |   | (A Texas Corporation) |   |   |
|                                                              |   | 577 N. Garden Ridge Blvd. |   |   |
|                                                              |   | Lewisville, Texas  75067 |   |   |
|                                                              |   | (972) 420-4189 |   |   |

| Large accelerated filer      | Accelerated filer      | Non-accelerated filer  ü |
|--------------------------------------------------|--------------------------------------------|-----------------------------------------|

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|                                                                                                                                          | Page No. |
|-----------------------------------------------------------------------------------------------------------------------------------------------|----------|
| GLOSSARY                                                                                                                                      | 3        |
| PART I.  FINANCIAL INFORMATION                                                                                                      |     |
|   ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)                                                                               |     |
|      TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES                                                                 |     |
|           Condensed Consolidated Statements of Earnings                                     | 6        |
|           Condensed Consolidated Balance Sheets                                             | 7        |
|           Condensed Consolidated Statements of Cash Flows                                   | 9        |
|           Condensed Consolidated Statements of Changes in Common Stockholder’s Equity | 11       |
|           Condensed Consolidated Statements of Comprehensive Income                         | 12       |
|           Notes to Condensed Consolidated Financial Statements                              | 13       |
|   ITEM 4.  CONTROLS AND PROCEDURES                                                                                        | 20       |
| PART II.  OTHER INFORMATION                                                                                                         |     |
|   ITEM 6.  EXHIBITS                                                                                                       | 21       |
| SIGNATURE                                                                                                                                     | 22       |
|                                                                                                                                          |     |
|                                                                                                                                          |     |

GLOSSARY 

| Definitions: |                                                                                                               |   |
|--------------|--------------------------------------------------------------------------------------------------------------------|--------|
| Afton        | Afton Generating Station                                                                                           |   |
| AG           | New Mexico Attorney General                                                                                        |   |
| ALJ          | Administrative Law Judge                                                                                           |   |
| Altura       | Optim Energy Twin Oaks, LP; formerly known as Altura Power L.P.                                                    |   |
| Altura Cogen | Optim Energy Altura Cogen, LLC; formerly known as Altura Cogen, LLC (the CoGen Lyondell Power Generation Facility) |   |
| AOCI         | Accumulated Other Comprehensive Income                                                                             |   |
| APS          | Arizona Public Service Company, which is the operator and a co-owner of PVNGS and Four Corners                |   |
| APB          | Accounting Principles Board                                                                                        |   |
| BART         | Best Available Retrofit Technology                                                                                 |   |
| Board        | Board of Directors of PNMR                                                                                         |   |
| Cal PX       | California Power Exchange                                                                                          |   |
| Cascade      | Cascade Investment, L.L.C.                                                                                         |   |
| Continental  | Continental Energy Systems, L.L.C.                                                                                 |   |
| CRHC         | Cap Rock Holding Corporation, a subsidiary of Continental                                                          |   |
| CTC          | Competition Transition Charge                                                                                      |   |
| Decatherm    | Million BTUs                                                                                                       |   |
| Delta        | Delta-Person Limited Partnership                                                                                   |   |
| DOE          | Department of Energy                                                                                               |   |
| ECJV         | ECJV Holdings, LLC                                                                                                 |   |
| EIP          | Eastern Interconnection Project                                                                                    |   |
| EITF         | Emerging Issues Task Force                                                                                         |   |
| EnergyCo     | EnergyCo, LLC, a limited liability company, owned 50% by each of PNMR and ECJV; now known as Optim Energy     |   |
| EPA          | United States Environmental Protection Agency                                                                      |   |
| EPE          | El Paso Electric Company                                                                                           |   |
| ERCOT        | Electric Reliability Council of Texas                                                                              |   |
| ESPP         | Employee Stock Purchase Plan                                                                                       |   |
| FASB         | Financial Accounting Standards Board                                                                               |   |
| FERC         | Federal Energy Regulatory Commission                                                                               |   |
| FIN          | FASB Interpretation Number                                                                                         |   |
| FIP          | Federal Implementation Plan                                                                                        |   |
| First Choice | First Choice Power, L. P. and Subsidiaries                                                                         |   |

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| Four Corners         | Four Corners Power Plant                                                                                                               |   |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------|--------|
| FPPAC           | Fuel and Purchased Power Adjustment Clause                                                                                             |   |
| FSP                  | FASB Staff Position                                                                                                                    |   |
| GAAP                 | Generally Accepted Accounting Principles in the United States of America                                                               |   |
| GEaR                 | Gross Earnings at Risk                                                                                                                 |   |
| GHG                  | Greenhouse Gas Emissions                                                                                                               |   |
| GWh                  | Gigawatt hours                                                                                                                         |   |
| IBEW                 | International Brotherhood of Electrical Workers, Local 611                                                                             |   |
| KWh                  | Kilowatt Hour                                                                                                                          |   |
| LBB                  | Lehman Brothers Bank, FSB, a subsidiary of LBH                                                                                         |   |
| LBH                  | Lehman Brothers Holdings Inc.                                                                                                          |   |
| LCC                  | Lyondell Chemical Company                                                                                                              |   |
| Lordsburg            | Lordsburg Generating Station                                                                                                           |   |
| Luna                 | Luna Energy Facility                                                                                                                   |   |
| MD&A             | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                            |   |
| Moody’s        | Moody’s Investor Services, Inc.                                                                                                  |   |
| MW                   | Megawatt                                                                                                                               |   |
| MWh                  | Megawatt Hour                                                                                                                          |   |
| Navajo Acts          | Navajo Nation Air Pollution Prevention and Control Act, the Navajo Nation Safe Drinking Water Act, and the Navajo Nation Pesticide Act |   |
| NDT                  | Nuclear Decommissioning Trusts for PVNGS                                                                                               |   |
| Ninth Circuit        | United States Court of Appeals for the Ninth Circuit                                                                                   |   |
| NMED                 | New Mexico Environment Department                                                                                                      |   |
| NMGC                 | New Mexico Gas Company, a subsidiary of Continental                                                                                    |   |
| NMPRC                | New Mexico Public Regulation Commission                                                                                                |   |
| NOX                  | Nitrogen Oxides                                                                                                                        |   |
| NOI                  | Notice of Inquiry                                                                                                                      |   |
| NRC                  | United States Nuclear Regulatory Commission                                                                                            |   |
| O&M              | Operations and Maintenance                                                                                                             |   |
| OCI                  | Other Comprehensive Income                                                                                                             |   |
| Optim Energy         | Optim Energy, LLC, a limited liability company, owned 50% by each of PNMR and ECJV; formerly known as EnergyCo                         |   |
| PG&E             | Pacific Gas and Electric Co.                                                                                                           |   |
| PNM                  | Public Service Company of New Mexico and Subsidiaries                                                                                  |   |
| PNM Facility         | PNM’s $400 Million Unsecured Revolving Credit Facility                                                                           |   |
| PNMR                 | PNM Resources, Inc. and Subsidiaries                                                                                                   |   |
| PNMR Facility        | PNMR’s $600 Million Unsecured Revolving Credit Facility                                                                          |   |
| PPA                  | Power Purchase Agreement                                                                                                               |   |
| PRP                  | Potential Responsible Party                                                                                                            |   |
| PUCT                 | Public Utility Commission of Texas                                                                                                     |   |
| PVNGS                | Palo Verde Nuclear Generating Station                                                                                                  |   |
| REC                  | Renewable Energy Certificates                                                                                                          |   |
| REP                  | Retail Electricity Provider                                                                                                            |   |
| RFP                  | Request for Proposal                                                                                                                   |   |
| RMC                  | Risk Management Committee                                                                                                              |   |
| SEC                  | United States Securities and Exchange Commission                                                                                       |   |
| SFAS                 | FASB Statement of Financial Accounting Standards                                                                                       |   |
| SJCC                 | San Juan Coal Company                                                                                                                  |   |
| SJGS                 | San Juan Generating Station                                                                                                            |   |
| SO2                  | Sulfur Dioxide                                                                                                                         |   |
| SPS                  | Southwestern Public Service Company                                                                                                    |   |
| SRP                  | Salt River Project                                                                                                                     |   |
| S&P              | Standard and Poor’s Ratings Services                                                                                             |   |
| TECA                 | Texas Electric Choice Act                                                                                                              |   |
| Term Loan Agreement  | PNM’s $300 Million Unsecured Delayed Draw Term Loan Facility                                                                     |   |
| TNMP Bridge Facility | TNMP’s $100 Million Bridge Term Loan Credit Agreement                                                                            |   |
| TNMP Facility        | TNMP’s $200 Million Unsecured Revolving Credit Facility                                                                          |   |
| TNMP                 | Texas-New Mexico Power Company and Subsidiaries                                                                                        |   |
| TNP                  | TNP Enterprises, Inc. and Subsidiaries                                                                                                 |   |
| Twin Oaks            | Assets of Twin Oaks Power, L.P. and Twin Oaks Power III, L.P.                                                                          |   |

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| Valencia | Valencia Energy Facility |   |
|----------|--------------------------|--------|
| VaR      | Value at Risk            |   |
|     |                     |   |
| Accounting Pronouncements (as amended and interpreted): |
|---------------------------------------------------------|
|                                                    |   |
| FIN 46R                                                 | FIN 46R “Consolidation of Variable Interest Entities an Interpretation of ARB No. 51” |
| FSP FAS 157-2                                           | FSP FAS 157-2 “Effective Date of FASB Statement No. 157” |
| SFAS 5                                                  | SFAS No. 5 “Accounting for Contingencies” |
| SFAS 57                                                 | SFAS No. 57 “Related Party Disclosures” |
| SFAS 106                                                | SFAS No. 106 “Employers' Accounting for Postretirement Benefits Other Than Pensions” |
| SFAS 112                                                | SFAS No. 112 “Employers’ Accounting for Postemployment Benefits – an amendment of FASB Statements No. 5 and 43” |
| SFAS 128                                                | SFAS No. 128 “Earnings per Share” |
| SFAS 133                                                | SFAS No. 133 “Accounting for Derivative Instruments and Hedging Activities” |
| SFAS 141                                                | SFAS No. 141 “Business Combinations” |
| SFAS 144                                                | SFAS No. 144 “Accounting for the Impairment or Disposal of Long-Lived Assets” |
| SFAS 157                                                | SFAS No. 157 “Fair Value Measurements” |
| SFAS 160                                                | SFAS No. 160 “Noncontrolling Interests in Consolidated Financial Statements – an amendment of ARB No. 51” |
| SFAS 161                                                | SFAS No. 161 “Disclosures about Derivative Instruments and Hedging Activities—an amendment of FASB Statement No. 133” |

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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS 

|                                |   | Three Months Ended March 31, |   |
|-------------------------------------|--------|------------------------------|--------|
|                                |   | 2009                         |   |   | 2008 |   |
|                                |   | (In thousands)               |   |
| Electric Operating Revenues         |   | $                            | 41,225 |   |   | $ | 42,228 |   |
|                                |   |                         |   |   |   |   |   |   |
| Operating Expenses:                 |   |                         |   |   |   |   |   |   |
| Cost of energy                      |   |                         | 8,595  |   |   |   | 7,812 |   |
| Administrative and general          |   |                         | 8,329  |   |   |   | 6,570 |   |
| Depreciation and amortization       |   |                         | 8,598  |   |   |   | 8,359 |   |
| Transmission and distribution costs |   |                         | 4,941  |   |   |   | 4,464 |   |
| Taxes, other than income taxes      |   |                         | 4,677  |   |   |   | 4,440 |   |
| Total operating expenses            |   |                         | 35,140 |   |   |   | 31,645 |   |
| Operating income                    |   |                         | 6,085  |   |   |   | 10,583 |   |
|                                |   |                         |   |   |   |   |   |   |
| Other Income and Deductions:        |   |                         |   |   |   |   |   |   |
| Interest income                     |   |                         | -      |   |   |   | 2 |   |
| Other income                        |   |                         | 417    |   |   |   | 414 |   |
| Other deductions                    |   |                         | (25    | ) |   |   | (19 | ) |
| Net other income and deductions     |   |                         | 392    |   |   |   | 397 |   |
|                                |   |                         |   |   |   |   |   |   |
| Interest Charges:                   |   |                         |   |   |   |   |   |   |
| Interest on long-term debt          |   |                         | 1,012  |   |   |   | 4,408 |   |
| Other interest charges              |   |                         | 3,083  |   |   |   | 581 |   |
| Net interest charges                |   |                         | 4,095  |   |   |   | 4,989 |   |
|                                |   |                         |   |   |   |   |   |   |
| Earnings Before Income Taxes        |   |                         | 2,382  |   |   |   | 5,991 |   |
|                                |   |                         |   |   |   |   |   |   |
| Income Taxes                        |   |                         | 961    |   |   |   | 2,261 |   |
|                                |   |                         |   |   |   |   |   |   |
| Net Earnings                        |   | $                            | 1,421  |   |   | $ | 3,730 |   |

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|                                                  |   | March 31,      |    |   | December 31, |   |
|-------------------------------------------------------|--------|----------------|---------|--------|--------------|--------|
|                                                  |   | 2009           |    |   | 2008         |   |
|                                                  |   | (In thousands) |    |
| ASSETS                                                |   |           |    |   |         |   |
| Current Assets:                                       |   |           |    |   |         |   |
| Cash and cash equivalents                             |   | $              | 59      |   |         | $      | 124 |   |
| Special deposits                                      |   |           | 50      |   |         |   | 50 |   |
| Accounts receivable                                   |   |           | 11,219  |   |         |   | 11,457 |   |
| Unbilled revenues                                     |   |           | 4,594   |   |         |   | 6,421 |   |
| Other receivables                                     |   |           | 1,872   |   |         |   | 480 |   |
| Affiliate accounts receivable                         |   |           | 5,004   |   |         |   | 7,110 |   |
| Materials and supplies                                |   |           | 1,718   |   |         |   | 1,625 |   |
| Income taxes receivable                               |   |           | -       |   |         |   | 9 |   |
| Other current assets                                  |   |           | 409     |   |         |   | 958 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Total current assets                                  |   |           | 24,925  |   |         |   | 28,234 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Other Property and Investments:                       |   |           |    |   |         |   |   |   |
| Other investments                                     |   |           | 556     |   |         |   | 550 |   |
| Non-utility property                                  |   |           | 2,111   |   |         |   | 2,111 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Total other property and investments                  |   |           | 2,667   |   |         |   | 2,661 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Utility Plant:                                        |   |           |    |   |         |   |   |   |
| Electric plant in service                             |   |           | 834,240 |   |         |   | 815,588 |   |
| Common plant in service and plant held for future use |   |           | 488     |   |         |   | 488 |   |
|                                                  |   |           | 834,728 |   |         |   | 816,076 |   |
| Less accumulated depreciation and amortization        |   |           | 296,294 |   |         |   | 291,228 |   |
|                                                  |   |           | 538,434 |   |         |   | 524,848 |   |
| Construction work in progress                         |   |           | 17,700  |   |         |   | 30,948 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Net utility plant                                     |   |           | 556,134 |   |         |   | 555,796 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Deferred Charges and Other Assets:                    |   |           |    |   |         |   |   |   |
| Regulatory assets                                     |   |           | 132,512 |   |         |   | 134,660 |   |
| Goodwill                                              |   |           | 226,665 |   |         |   | 226,665 |   |
| Other deferred charges                                |   |           | 29,095  |   |         |   | 23,982 |   |
|                                                  |   |           |    |   |         |   |   |   |
| Total deferred charges and other assets               |   |           | 388,272 |   |         |   | 385,307 |   |
|                                                  |   |           |    |   |         |   |   |   |
|                                                  |   | $              | 971,998 |   |         | $      | 971,998 |   |

----

|                                                                   |   | March 31,                                |    |   | December 31, |   |
|------------------------------------------------------------------------|--------|------------------------------------------|---------|--------|--------------|--------|
|                                                                   |   | 2009                                     |    |   | 2008         |   |
|                                                                   |   | (In thousands, except share information) |    |
| LIABILITIES AND STOCKHOLDER’S EQUITY                             |   |                                     |    |   |         |   |
| Current Liabilities:                                                   |   |                                     |    |   |         |   |
|    Short-term debt                                      |   | $                                        | -       |   |         | $      | 150,000 |   |
| Short-term debt – affiliate                                      |   |                                     | 38,800  |   |         |   | 14,100 |   |
| Current installments of long-term debt                                 |   |                                     | -       |   |         |   | 167,690 |   |
| Accounts payable                                                       |   |                                     | 3,850   |   |         |   | 11,846 |   |
| Affiliate accounts payable                                             |   |                                     | 1,943   |   |         |   | 1,238 |   |
| Accrued interest and taxes                                             |   |                                     | 26,878  |   |         |   | 35,118 |   |
| Other current liabilities                                              |   |                                     | 2,508   |   |         |   | 3,111 |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Total current liabilities                                              |   |                                     | 73,979  |   |         |   | 383,103 |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Long-term Debt                                                         |   |                                     | 309,242 |   |         |   | - |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Deferred Credits and Other Liabilities:                                |   |                                     |    |   |         |   |   |   |
| Accumulated deferred income taxes                                      |   |                                     | 110,105 |   |         |   | 111,193 |   |
| Regulatory liabilities                                                 |   |                                     | 33,748  |   |         |   | 35,028 |   |
| Asset retirement obligations                                           |   |                                     | 726     |   |         |   | 711 |   |
| Accrued pension liability and postretirement benefit cost              |   |                                     | 15,985  |   |         |   | 16,453 |   |
| Derivative instruments                                                 |   |                                     | 840     |   |         |   | - |   |
| Other deferred credits                                                 |   |                                     | 2,803   |   |         |   | 1,820 |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Total deferred credits and other liabilities                           |   |                                     | 164,207 |   |         |   | 165,205 |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Total liabilities                                                      |   |                                     | 547,428 |   |         |   | 548,308 |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Commitments and Contingencies (See Note 9)                             |   |                                     |    |   |         |   |   |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Common Stockholder’s Equity:                                     |   |                                     |    |   |         |   |   |   |
| Common stock outstanding ($10 par value, 12,000,000 shares authorized: |   |                                     |    |   |         |   |   |   |
| issued and outstanding 6,358 shares)                                   |   |                                     | 64      |   |         |   | 64 |   |
| Paid-in-capital                                                        |   |                                     | 427,320 |   |         |   | 427,320 |   |
| Accumulated other comprehensive income (loss), net of income tax       |   |                                     | (683    | )      |         |   | (142 | ) |
| Retained earnings (deficit)                                            |   |                                     | (2,131  | )      |         |   | (3,552 | ) |
|                                                                   |   |                                     |    |   |         |   |   |   |
| Total common stockholder’s equity                                |   |                                     | 424,570 |   |         |   | 423,690 |   |
|                                                                   |   |                                     |    |   |         |   |   |   |
|                                                                   |   | $                                        | 971,998 |   |         | $      | 971,998 |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

|                                       |   | Three Months Ended March 31, |   |
|--------------------------------------------|--------|------------------------------|--------|
|                                       |   | 2009                         |   |   | 2008 |   |
|                                       |   | (In thousands)               |   |
| Cash Flows From Operating Activities:      |   |                         |   |   |   |   |
| Net earnings                               |   | $                            | 1,421  |   |   | $ | 3,730 |   |
| Adjustments to reconcile net earnings to   |   |                         |   |   |   |   |   |   |
| net cash flows from operating activities:  |   |                         |   |   |   |   |   |   |
| Depreciation and amortization              |   |                         | 10,317 |   |   |   | 9,321 |   |
| Deferred income tax expense (benefit)      |   |                         | (789   | ) |   |   | (1,484 | ) |
| Other, net                                 |   |                         | 13     |   |   |   | (681 | ) |
| Changes in certain assets and liabilities: |   |                         |   |   |   |   |   |   |
| Accounts receivable and unbilled revenues  |   |                         | 2,065  |   |   |   | (596 | ) |
| Materials and supplies                     |   |                         | (93    | ) |   |   | (5 | ) |
| Other current assets                       |   |                         | (144   | ) |   |   | 545 |   |
| Other assets                               |   |                         | (11    | ) |   |   | 37 |   |
| Accounts payable                           |   |                         | (7,996 | ) |   |   | (1,560 | ) |
| Accrued interest and taxes                 |   |                         | (8,230 | ) |   |   | (2,995 | ) |
| Other current liabilities                  |   |                         | 2,209  |   |   |   | 4,991 |   |
| Other liabilities                          |   |                         | (796   | ) |   |   | 220 |   |
| Net cash flows from operating activities   |   |                         | (2,034 | ) |   |   | 11,523 |   |
|                                       |   |                         |   |   |   |   |   |   |
| Cash Flows From Investing Activities-      |   |                         |   |   |   |   |   |   |
| Utility plant additions                    |   |                         | (8,052 | ) |   |   | (8,669 | ) |
| Net cash flows from investing activities   |   |                         | (8,052 | ) |   |   | (8,669 | ) |

----

|                                             |   | Three Months Ended March 31, |     |
|--------------------------------------------------|--------|------------------------------|----------|
|                                             |   | 2009                         |     |   | 2008 |   |
|                                             |   | (In thousands)               |     |
| Cash Flow From Financing Activities:             |   |                         |     |   |   |   |
| Short-term borrowings (repayments), net          |   |                         | (150,000 | ) |   |   | - |   |
| Short-term borrowings – affiliate          |   |                         | 24,700   |   |   |   | (2,904 | ) |
| Long-term debt issuance                          |   |                         | 309,242  |   |   |   | - |   |
| Repayment of long-term debt                      |   |                         | (167,690 | ) |   |   | - |   |
| Other, net                                       |   |                         | (6,231   | ) |   |   | (50 | ) |
| Net cash flows from financing activities         |   |                         | 10,021   |   |   |   | (2,954 | ) |
|                                             |   |                         |     |   |   |   |   |   |
| Change in Cash and Cash Equivalents              |   |                         | (65      | ) |   |   | (100 | ) |
| Cash and Cash Equivalents at Beginning of Period |   |                         | 124      |   |   |   | 187 |   |
| Cash and Cash Equivalents at End of Period       |   | $                            | 59       |   |   | $ | 87 |   |
|                                             |   |                         |     |   |   |   |   |   |
| Supplemental Cash Flow Disclosures:              |   |                         |     |   |   |   |   |   |
| Interest paid, net of capitalized interest       |   | $                            | 8,650    |   |   | $ | 5,269 |   |
| Income taxes paid (refunded), net                |   | $                            | (935     | ) |   | $ | (858 | ) |
|                                             |   |                         |     |   |   |   |   |   |

----

|                                    |   |         |   |   |      |   |   | Accumulated            |   |   |          |   |   | Total     |   |
|-----------------------------------------|--------|--------------|--------|--------|-----------|--------|--------|------------------------|--------|--------|---------------|--------|--------|-----------|--------|
|                                    |   | Common Stock |   |   |      |   |   | Other                  |   |   | Retained      |   |   | Common    |   |
|                                    |   | Number of    |   |   | Aggregate |   |   | Paid-in                |   |   | Comprehensive |   |   | Earnings  |   |   | Stockholder’s |   |
|                                    |   | Shares       |   |   | Value     |   |   | Capital                |   |   | Income (Loss) |   |   | (Deficit) |   |   | Equity |   |
|                                    |   |         |   |   |      |   |   | (Dollars in thousands) |   |   |          |   |   |      |   |
|                                    |   |         |   |   |      |   |   |                   |   |   |          |   |   |      |   |   |   |   |
| Balance at December 31, 2008            |   |         | 6,358  |   |      | $      | 64     |                   |   | $      | 427,320       |   |   | $         | (142   | ) |   | $ | (3,552 | ) |   | $ | 423,690 |   |
| Net earnings                            |   |         | -      |   |      |   | -      |                   |   |   | -             |   |   |      | -      |   |   |   | 1,421 |   |   |   | 1,421 |   |
| Total other comprehensive income (loss) |   |         | -      |   |      |   | -      |                   |   |   | -             |   |   |      | (541   | ) |   |   | - |   |   |   | (541 | ) |
| Balance at March 31, 2009               |   |         | 6,358  |   |      | $      | 64     |                   |   | $      | 427,320       |   |   | $         | (683   | ) |   | $ | (2,131 | ) |   | $ | 424,570 |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 

|                                                                 |   | Three Months Ended March 31, |   |
|----------------------------------------------------------------------|--------|------------------------------|--------|
|                                                                 |   | 2009                         |   |   | 2008 |   |
|                                                                 |   | (In thousands)               |   |
|                                                                 |   |                         |   |   |   |   |
| Net Earnings                                                         |   | $                            | 1,421  |   |   | $ | 3,730 |   |
|                                                                 |   |                         |   |   |   |   |   |   |
| Other Comprehensive Income (Loss):                                   |   |                         |   |   |   |   |   |   |
|                                                                 |   |                         |   |   |   |   |   |   |
| Fair Value Adjustment for Designated Cash Flow Hedges:               |   |                         |   |   |   |   |   |   |
|   Change in fair market value, net of income tax (expense) |   |                         |   |   |   |   |   |   |
|      benefit of $300 and $0                 |   |                         | (541   | ) |   |   | - |   |
|                                                                 |   |                         |   |   |   |   |   |   |
| Total Other Comprehensive Income (Loss)                              |   |                         | (541   | ) |   |   | - |   |
|                                                                 |   |                         |   |   |   |   |   |   |
| Comprehensive Income                                                 |   | $                            | 880    |   |   | $ | 3,730 |   |

----

| (1)   | Significant Accounting Policies and Responsibility for Financial Statements |
|-----------------|-----------------------------------------------------------------------------|

| (2) | [omitted because not applicable] |
|-----|----------------------------------|

| (3)   | Segment Information |
|-----------------|---------------------|

| (4)   | [omitted because not applicable] |
|-----------------|----------------------------------|

| (5)   | [omitted because not applicable] |
|-----------------|----------------------------------|

----

| (6)   |  Stock-Based Compensation |
|-----------------|--------------------------------|

| Dividend yield           |   |     6.27%       |
|--------------------------|--------|--------------------------------|
| Expected volatility      |   |    42.03%       |
| Risk-free interest rates |   |      1.56% |
| Expected life (years)    |   | 4.48                           |

| (7)   | Capitalization |
|-----------------|----------------|

|                                   |   | March 31,      |   |   | December 31, |   |
|----------------------------------------|--------|----------------|--------|--------|--------------|--------|
| Short-term Debt                        |   | 2009           |   |   | 2008         |   |
|                                   |   | (In thousands) |   |
|                                   |   |           |   |   |         |   |
| TNMP – Revolving credit facility |   | $              | -      |   |         | $      | 150,000 |   |

----

| (8)   | Pension and Other Postretirement Benefit Plans |
|-----------------|------------------------------------------------|

----

|                                |   | Three Months Ended March 31, |   |
|-------------------------------------|--------|------------------------------|--------|
|                                |   | Pension Plan                 |   |   | Other Postretirement Benefits |   |   | Executive Retirement Program |   |
|                                |   | 2009                         |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                |   |                         |   |   |   |   |   | (In thousands) |   |   |   |   |   |   |   |
| Components of Net Periodic          |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Benefit Cost (Income)               |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Service cost                        |   | $                            | -      |   |   | $ | - |   |   | $ | 65 |   |   | $ | 71 |   |   | $ | - |   |   | $ | - |   |
| Interest cost                       |   |                         | 1,099  |   |   |   | 1,061 |   |   |   | 183 |   |   |   | 179 |   |   |   | 19 |   |   |   | 19 |   |
| Expected long-term return on assets |   |                         | (1,523 | ) |   |   | (1,659 | ) |   |   | (124 | ) |   |   | (122 | ) |   |   | - |   |   |   | - |   |
| Amortization of net gain            |   |                         | -      |   |   |   | (36 | ) |   |   | (66 | ) |   |   | (68 | ) |   |   | - |   |   |   | - |   |
| Amortization of prior service cost  |   |                         | -      |   |   |   | - |   |   |   | 15 |   |   |   | 15 |   |   |   | - |   |   |   | - |   |
| Net Periodic Benefit Cost (Income)  |   | $                            | (424   | ) |   | $ | (634 | ) |   | $ | 73 |   |   | $ | 75 |   |   | $ | 19 |   |   | $ | 19 |   |

| (9)   | Commitments and Contingencies |
|-----------------|-------------------------------|

| (10)   | Regulatory and Rate Matters |
|------------------|-----------------------------|

----

----

| (11)   | [omitted because not applicable] |
|------------------|----------------------------------|

| (12)   | Related Party Transactions |
|------------------|----------------------------|

|                                                     |   | Three Months Ended |   |
|----------------------------------------------------------|--------|--------------------|--------|
|                                                     |   | March 31,          |   |
|                                                     |   | 2009               |   |   | 2008 |   |
|                                                     |   | (In thousands)     |   |
|                                                     |   |               |   |   |   |   |
| Electricity, transmission and related services billings: |   |               |   |   |   |   |
| TNMP to PNMR                                             |   | $                  | 9,303  |   |   | $ | 14,410 |   |
|                                                     |   |               |   |   |   |   |   |   |
| Services billings:                                       |   |               |   |   |   |   |   |   |
| PNMR to TNMP                                             |   |               | 5,284  |   |   |   | 4,559 |   |
| PNM to TNMP                                              |   |               | 133    |   |   |   | - |   |
|                                                     |   |               |   |   |   |   |   |   |
| Income tax sharing payments from:                        |   |               |   |   |   |   |   |   |
| PNMR to TNMP                                             |   |               | -      |   |   |   | 858 |   |
|                                                     |   |               |   |   |   |   |   |   |
| Interest payments:                                       |   |               |   |   |   |   |   |   |
| TNMP to PNMR                                             |   |               | 430    |   |   |   | 89 |   |

| (13)   | New Accounting Pronouncements |
|------------------|-------------------------------|

----

| (14)   | [omitted because not applicable] |
|------------------|----------------------------------|

| (15)   | [omitted because not applicable] |
|------------------|----------------------------------|

| (16)   | [omitted because not applicable] |
|------------------|----------------------------------|

----

----

| 31.5   | TNMP   | Chief Executive Officer Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------|--------|-------------------------------------------------------------------------------------------------|
|   |   |                                                                                            |
| 31.6   | TNMP   | Chief Financial Officer Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |   |                                                                                            |

----

|                                    | TEXAS-NEW MEXICO POWER COMPANY                |
|-----------------------------------------|-----------------------------------------------|
|                                    | (Registrant)                                  |
|                                    |                                          |
|                                    |                                          |
| Date:   January 15, 2010 | /s/ Thomas G. Sategna                         |
|                                    | Thomas G. Sategna                             |
|                                    | Vice President and Controller                 |
|                                    | (Officer duly authorized to sign this report) |

----