|UNITED STATES SECURITIES AND EXCHANGE COMMISSION                                                        
|--------------------------------------------------------------------------------------------------------
|WASHINGTON, D. C.  20549                                                                                
|                                                                                                        
|FORM 10-Q                                                                                               
|                                                                                                        
|(Mark One)                                                                                              
|(X)     COMBINED QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|                                                                                                        
|For the quarterly period endedSeptember 30, 2001                                                        
|                                                                                                        
|or                                                                                                      
|                                                                                                        
|(  )     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934       
|For the transition period from  to                                                                      
|                                                                                                        
|Commission File Number: 1-8847                                                                          
|                                                                                                        
|TNP ENTERPRISES, INC.                                                                                   
|(Exact name of registrant as specified in its charter)                                                  
|                                                                                                        
|Texas                                                                                                   
|(State of incorporation)                                                                                
|                                                                                                        
|4100 International Plaza, P. O. Box 2943, Fort Worth, Texas 76113                                       
|(Address and zip code of principal executive offices)                                                   
|                                                                                                        
|Registrant's telephone number, including area code 817-731-0099                                         



Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes \X\ No \   \

TNP Enterprises, Inc. has no publicly traded shares of common stock outstanding.

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|Commission File Number: 2-97230                                  
|                                                                 
|TEXAS-NEW MEXICO POWER COMPANY                                   
|(Exact name of registrant as specified in its charter)           
|                                                                 
|Texas                                                            
|(State of incorporation)                                         
|                                                                 
|4100 International Plaza, P. O. Box 2943, Fort Worth, Texas 76113
|(Address and zip code of principal executive offices)            
|                                                                 
|Registrant's telephone number, including area code 817-731-0099  



Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes \X\ No \   \



TNP Enterprises, Inc. holds all 10,705 outstanding common shares of Texas-New Mexico Power Company.

1



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|TNP Enterprises, Inc. And Subsidiaries                                        
|------------------------------------------------------------------------------
|Texas New-Mexico Power Company And Subsidiaries                               
|Combined Quarterly Report on Form 10-Q for the period ended September 30, 2001



This Combined Quarterly Report on Form 10-Q is filed separately by TNP Enterprises, Inc., and Texas-New Mexico Power Company.  Texas-New Mexico Power Company makes no representation as to information relating to TNP Enterprises, Inc., except as it may relate to Texas-New Mexico Power Company, or to any other affiliate or subsidiary of TNP Enterprises, Inc.





|TABLE OF CONTENTS                              
|-----------------------------------------------
|                                               
|PART I.  FINANCIAL INFORMATION                 
|Item 1.                                        
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|Item 2.                                        
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|PART II.  OTHER INFORMATION                    
|Item 1.                                        
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|Item 5.                                        
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|Item 6.                                        
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|Statement Regarding Forward Looking Information
|                                               
|Signature Page                                 



2



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|TNP ENTERPRISES, INC. AND SUBSIDIARIES                                                  |                                                      
|--------------------------------------------------------------------------------------- | -----------------------------------------------------
|CONSOLIDATED STATEMENTS OF INCOME                                                       |                                                      
|(Unaudited)                                                                             |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      
|OPERATING REVENUES                                                                      |                                                      
|OPERATING EXPENSES:                                                                     |                                                      
|                                                                                        | Purchased power and fuel                             
|                                                                                        | Other operating and maintenance                      
|                                                                                        | Depreciation and amortization                        
|                                                                                        | Charge for recovery of stranded plant                
|                                                                                        | Taxes other than income taxes                        
|                                                                                        | Income taxes                                         
|                                                                                        |                                                      
|NET OPERATING INCOME                                                                    |                                                      
|OTHER INCOME:                                                                           |                                                      
|                                                                                        | Other income and deductions, net                     
|                                                                                        | Income taxes                                         
|                                                                                        |                                                      
|                                                                                        |                                                      
|INCOME BEFORE INTEREST CHARGES                                                          |                                                      
|INTEREST CHARGES:                                                                       |                                                      
|                                                                                        | Interest on long-term debt                           
|                                                                                        | Other interest and amortization of debt-related costs
|                                                                                        |                                                      
|NET INCOME                                                                              |                                                      
|                                                                                        | Dividends on preferred stock and other               
|INCOME APPLICABLE TO COMMON STOCK                                                       |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      
|The accompanying notes are an integral part of these consolidated financial statements. |                                                      
|                                                                                        |                                                      
|                                                                                        |                                                      

|3                                                                                       |                                                                                             
|--------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------
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|TNP ENTERPRISES, INC. AND SUBSIDIARIES                                                 
|CONSOLIDATED STATEMENTS OF INCOME (LOSS)                                               
|(Unaudited)                                                                            
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|OPERATING REVENUES                                                                      |                                                                                             
|OPERATING EXPENSES:                                                                     |                                                                                             
|                                                                                        | Purchased power and fuel                                                                    
|                                                                                        | Other operating and maintenance                                                             
|                                                                                        | Depreciation and amortization                                                               
|                                                                                        | Charge for recovery of stranded plant                                                       
|                                                                                        | Taxes other than income taxes                                                               
|                                                                                        | Income taxes                                                                                
|                                                                                        |                                                                                             
|                                                                                        |                                                                                             
|NET OPERATING INCOME                                                                    | 62,322                                                                                      
|OTHER INCOME:                                                                           |                                                                                             
|                                                                                        | Other income and deductions, net                                                            
|                                                                                        | Income taxes                                                                                
|                                                                                        |                                                                                             
|                                                                                        |                                                                                             
|INCOME BEFORE INTEREST CHARGES                                                          | 63,118                                                                                      
|INTEREST CHARGES:                                                                       |                                                                                             
|                                                                                        | Interest on long-term debt                                                                  
|                                                                                        | Other interest and amortization of debt-related costs                                       
|                                                                                        |                                                                                             
|                                                                                        |                                                                                             
|INCOME BEFORE THE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING                             | 9,466                                                                                       
|                                                                                        |                                                                                             
|                                                                                        | Cumulative effect of change in accounting for major maintenance costs, net of taxes (Note 3)
|                                                                                        |                                                                                             
|NET INCOME                                                                              | 8,296                                                                                       
|                                                                                        | Dividends on preferred stock and other                                                      
|                                                                                        |                                                                                             
|INCOME (LOSS) APPLICABLE TO COMMON STOCK                                                | $                     (4,012)                                                               
|                                                                                        |                                                                                             
|                                                                                        |                                                                                             
|                                                                                        |                                                                                             
|The accompanying notes are an integral part of these consolidated financial statements.
|                                                                                        |                                                                                             
|4                                                                                       |                                                                                             
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|TNP ENTERPRISES, INC. AND SUBSIDIARIES                                                 
|---------------------------------------------------------------------------------------
|CONSOLIDATED STATEMENTS OF CASH FLOWS                                                  
|(Unaudited)                                                                            
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|CASH FLOWS FROM OPERATING ACTIVITIES:                                                  
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|NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                                    
|CASH FLOWS FROM INVESTING ACTIVITIES:                                                  
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|NET CASH USED IN INVESTING ACTIVITIES                                                  
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|CASH FLOWS FROM FINANCING ACTIVITIES:                                                  
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|NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES                                    
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|NET CHANGE IN CASH AND CASH EQUIVALENTS                                                
|CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                       
|                                                                                       
|CASH AND CASH EQUIVALENTS AT END OF PERIOD                                             
|                                                                                       
|RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:   
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|NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                                    
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|                                                                                       
|The accompanying notes are an integral part of these consolidated financial statements.
|                                                                                       
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|5                                                                                      
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|TNP ENTERPRISES, INC. AND SUBSIDIARIES                                                 
|---------------------------------------------------------------------------------------
|CONSOLIDATED BALANCE SHEETS                                                            
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|ASSETS                                                                                 
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|UTILITY PLANT:                                                                         
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|OTHER PROPERTY AND INVESTMENTS, at cost                                                
|CURRENT ASSETS:                                                                        
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|LONG-TERM AND OTHER ASSETS:                                                            
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|CAPITALIZATION AND LIABILITIES                                                         
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|CAPITALIZATION:                                                                        
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|CURRENT LIABILITIES:                                                                   
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|LONG-TERM AND OTHER LIABILITIES:                                                       
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|COMMITMENTS AND CONTINGENCIES (Note 4)                                                 
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|The accompanying notes are an integral part of these consolidated financial statements.
|                                                                                       
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|6                                                                                           
|--------------------------------------------------------------------------------------------
|                                                                                            
|TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES                                             
|(a wholly owned subsidiary of TNP Enterprises, Inc.)                                        
|CONSOLIDATED STATEMENTS OF INCOME                                                           
|(Unaudited)                                                                                 
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|OPERATING REVENUES                                                                          
|OPERATING EXPENSES:                                                                         
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|NET OPERATING INCOME                                                                        
|OTHER INCOME:                                                                               
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|INCOME BEFORE INTEREST CHARGES                                                              
|INTEREST CHARGES:                                                                           
|                                                                                            
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|INCOME BEFORE THE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING                                 
|                                                                                            
|Cumulative effect of change in accounting for major maintenance costs, net of taxes (Note 3)
|NET INCOME                                                                                  
|                                                                                            
|INCOME APPLICABLE TO COMMON STOCK                                                           
|                                                                                            
|                                                                                            
|The accompanying notes are an integral part of these consolidated financial statements.     
|                                                                                            
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|7                                                                                           
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|TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES                                        
|---------------------------------------------------------------------------------------
|(a wholly owned subsidiary of TNP Enterprises, Inc.)                                   
|CONSOLIDATED STATEMENTS OF CASH FLOWS                                                  
|(Unaudited)                                                                            
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|CASH FLOWS FROM OPERATING ACTIVITIES:                                                  
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|NET CASH PROVIDED BY OPERATING ACTIVITIES                                              
|CASH FLOWS FROM INVESTING ACTIVITIES:                                                  
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|NET CASH USED IN INVESTING ACTIVITIES                                                  
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|CASH FLOWS FROM FINANCING ACTIVITIES:                                                  
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|NET CASH USED IN FINANCING ACTIVITIES                                                  
|NET CHANGE IN CASH AND CASH EQUIVALENTS                                                
|CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                       
|CASH AND CASH EQUIVALENTS AT END OF PERIOD                                             
|RECONCILIATION OF NET INCOME TO NET                                                    
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|NET CASH PROVIDED BY OPERATING ACTIVITIES                                              
|                                                                                       
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|The accompanying notes are an integral part of these consolidated financial statements.
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|8                                                                                      
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|TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES                                        
|---------------------------------------------------------------------------------------
|(a wholly owned subsidiary of TNP Enterprises, Inc.)                                   
|CONSOLIDATED BALANCE SHEETS                                                            
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|ASSETS                                                                                 
|                                                                                       
|UTILITY PLANT:                                                                         
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|OTHER PROPERTY AND INVESTMENTS, at cost                                                
|CURRENT ASSETS:                                                                        
|                                                                                       
|                                                                                       
|                                                                                       
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|                                                                                       
|                                                                                       
|                                                                                       
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|LONG-TERM AND OTHER ASSETS:                                                            
|                                                                                       
|                                                                                       
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|CAPITALIZATION AND LIABILITIES                                                         
|                                                                                       
|CAPITALIZATION:                                                                        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|CURRENT LIABILITIES:                                                                   
|                                                                                       
|                                                                                       
|                                                                                       
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|                                                                                       
|                                                                                       
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|LONG-TERM AND OTHER LIABILITIES:                                                       
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|                                                                                       
|                                                                                       
|COMMITMENTS AND CONTINGENCIES (Note 4)                                                 
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|The accompanying notes are an integral part of these consolidated financial statements.
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|9