| TEXAS-NEW      MEXICO POWER COMPANY                              |
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| Ratio      of Earnings to Fixed Charges                          |
| (In      thousands, except ratio)                                |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   | Year      Ended December 31, |   |
|                                                             | Six      Months Ending |   |   |   |   |   |   |   |   |   |   |
|                                                             | June      30, 2009 |   | 2008 |   | 2007 |   | 2006 |   | 2005 |   | 2004 |   |
| Fixed      charges, as defined by the Securities and Exchange    |   |   |   |   |   |   |   |   |   |
| Commission:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      on long-term debt (including interest capitalized) |  $                      8,078 |   |    $         12,427 |   |  $      22,394 |   |   $   25,728 |   |   $  25,727 |   |    $  25,855 |   |
| Amortization      of debt premium, discount and expenses         |                          1,975 |   |               1,504 |   |          1,925 |   |        1,695 |   | 2,111 |   | 2,522 |   |
| Other      interest (including interest capitalized)             |                          2,718 |   |               5,434 |   |          1,129 |   |        1,646 |   |         179 |   |          442 |   |
| Estimated      interest factor of lease rental charges           |                             187 |   |                 571 |   |             844 |   |          367 |   | 377 |   | 279 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Fixed Charges                                         |  $                    12,958 |   |  $         19,936 |   |  $    26,292 |   |  $  29,436 |   |  $      28,394 |   |  $  29,098 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings,      as defined by the Securities and Exchange         |   |   |   |   |   |   |   |   |   |
| Commission:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      from continuing operations before income taxes     |  $                      5,356 |   |  $           2,335 |   |  $    29,055 |   |  $  17,905 |   |  $      25,183 |   |  $  66,117 |   |
| Fixed      charges as above                                      |                        12,958 |   |             19,936 |   |        26,292 |   |      29,436 |   |     28,394 |   |      29,098 |   |
| Interest      capitalized                                        |                           (737) |   |             (1,025) |   |           (332) |   |         (209) |   |        (200) |   |         (370) |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      Available for Fixed Charges                        |  $                    17,577 |   |  $         21,246 |   |  $    55,015 |   |  $  47,132 |   |  $      53,377 |   |  $  94,845 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio      of Earnings to Fixed Charges                          | 1.36 |   | 1.07 |   | 2.09 |   | 1.60 |   | 1.88 |   | 3.26 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
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