<PAGE>

================================================================================

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                             ----------------------

                                   FORM 10-K/A
                                 AMENDMENT NO. 2

                  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2000     COMMISSION FILE NUMBER 1 - 6986

                      PUBLIC SERVICE COMPANY OF NEW MEXICO
             (Exact name of Registrant as specified in its charter)

        NEW MEXICO                                            85-0019030
(State or other jurisdiction of                            (I.R.S. Employer
 incorporation or organization)                           Identification No.)

          ALVARADO SQUARE                                      87158
      ALBUQUERQUE, NEW MEXICO                                (Zip Code)
(Address of principal executive offices)

       Registrant's telephone number, including area code: (505) 241-2700

           Securities registered pursuant to Section 12(b) of the Act:


      TITLE OF EACH CLASS              NAME OF EACH EXCHANGE ON WHICH REGISTERED
      -------------------              -----------------------------------------
Common Stock, $5.00 Par Value                   New York Stock Exchange

          Securities registered pursuant to Section 12(g) of the Act:

                                (TITLE OF CLASS)
                  1965 SERIES, 4.58% CUMULATIVE PREFERRED STOCK
                  ($100 STATED VALUE AND WITHOUT SINKING FUND)


        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 and (2) has been subject to such filing
requirements for the past 90 days. YES  X     NO
                                      -----      -----

        Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in any amendment to this Form 10-K/A. __

        The total number of shares of the Company's Common Stock outstanding as
of January 31, 2001 was 39,117,799. On such date, the aggregate market value of
the voting stock held by non-affiliates of the Company, as computed by reference
to the New York Stock Exchange composite transaction closing price of $24.70 per
share reported by The Wall Street Journal, was $966,209,635.

                       DOCUMENTS INCORPORATED BY REFERENCE

        NONE.


<PAGE>

This amendment is being filed to revise the table "Aggregated Option
Exercises In 2000 And 2000 Year-End Option Values" on page E-5.

                                   PART III

ITEM 11. EXECUTIVE COMPENSATION


                             EXECUTIVE COMPENSATION
<TABLE>
<CAPTION>

                                                    SUMMARY COMPENSATION TABLE
                              ---------------------------------------------------------------------------------
                                                                                                  LONG-TERM
                                                                                                COMPENSATION
                                                                                               ----------------
                                                    ANNUAL COMPENSATION                            AWARDS
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                 SECURITIES
NAME AND                                                                     OTHER ANNUAL        UNDERLYING         ALL OTHER
PRINCIPAL POSITION               YEAR         SALARY          BONUS         COMPENSATION(a)      OPTIONS(#)       COMPENSATION
----------------------------------------------------------------------------------------------------------------------------------
<S>                           <C>         <C>             <C>             <C>                  <C>               <C>
J. E. Sterba                    2000        $317,114  (b)   $241,200 (c)          --             325,000          $127,464  (d)
  Chairman, President           1999(e)           --              --              --                  --                --
  and Chief Executive           1998         256,849  (f)    117,161 (g)          --                 -0-  (h)        6,525  (i)
  Officer
----------------------------------------------------------------------------------------------------------------------------------
B. F. Montoya                   2000        $377,881  (b)   $150,000(j)           --             100,000          $129,961   (k)
  Chairman and Chief            1999         415,376         100,000(l)           --              45,000            19,153   (i)
  Executive Officer             1998         389,423          25,000(l)           --                 -0-  (h)       22,327   (i)
----------------------------------------------------------------------------------------------------------------------------------
R. J. Flynn                     2000        $234,808        $182,820(c)           --              65,000            $9,691   (i)
  Executive Vice President      1999         193,110          64,400(g)           --              16,000             5,555   (i)
  of Electric and Gas           1998         166,320          49,223(g)           --                 -0-  (h)        1,842   (i)
  Services
----------------------------------------------------------------------------------------------------------------------------------
M. H. Maerki                    2000        $217,393        $111,452(c)           --              49,000            $6,652   (i)
  Senior Vice President and     1999         188,732          55,200(g)           --              16,000             5,281   (i)
  Chief Financial Officer       1998         190,432  (f)     49,927(g)           --                 -0-  (h)        3,024   (i)
----------------------------------------------------------------------------------------------------------------------------------
P. T. Ortiz                     2000        $197,121         $78,982(c)           --              47,000           $10,651   (i)
  Senior Vice President,        1999         170,670          39,900(g)           --              16,000             3,446   (i)
  General Counsel and                                         75,000(m)           --
  Secretary                     1998         155,699          41,588(g)           --                 -0-  (h)          982   (i)
----------------------------------------------------------------------------------------------------------------------------------
W. J. Real                      2000        $219,233        $182,820(c)           --              67,000            $7,217   (i)
  Executive Vice President      1999         173,139          45,600(g)           --              16,000             3,752   (i)
  of Power Production and       1998         145,335          18,685(g)           --                 -0-  (h)          301   (i)
  Marketing
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

(a)  Amounts are less than the established reporting thresholds.
(b)  Salary for a partial year of service; Mr. Montoya retired October 13, 2000
     and Mr. Sterba was hired March 1, 2000.
(c)  Bonus paid in 2001 for 2000 performance according to an Officer Incentive
     Plan that was created to replace executive officer participation in the
     broad-based employee annual incentive program, Results Pay. The officer
     plan ties a portion of officer compensation to company-wide earnings per
     share, positive corporate total shareholder return in excess of the
     Philadelphia Utility Index, and individual performance.
(d)  Relocation expense reimbursements plus amounts pursuant to a plan that
     provides executives with contribution benefits for earning more than IRS
     limits imposed for qualified plans.
(e)  Mr. Sterba was not employed by the Company during 1999.
(f)  Amounts include sales of accrued vacation hours during 1998 and also
     reflect increases in base salaries.




                                      E-3
<PAGE>

(g)  Incentives paid in 2000 and/or 1999 for prior year achievements under the
     broad-based employee annual incentive program, Results Pay. In addition,
     these amounts include any lump sum bonus granted for individual
     performance.
(h)  Due to Performance Stock Plan amendments approved in 1998 that changed the
     timing of the grants, no grants were awarded with a 1998 effective date.
(i)  Amounts are pursuant to a plan that provides executives with contribution
     benefits for earning more than IRS limits imposed for qualified plans.
(j)  Bonus paid in April 2001 for previous performance.
(k)  Taxable gifts, unused vacation and flexible holiday pay upon retirement,
     plus amounts pursuant to a plan that provides executives with contribution
     benefits for earning more than IRS limits imposed for qualified plans.
(l)  Bonus paid in February 2000 for 1999 performance. Bonus paid in June 1998
     was for previous performance.
(m)  Bonus paid in March 2000 for previous performance.



--------------------------------------------------------------------------------
                              OPTION GRANTS IN 2000
--------------------------------------------------------------------------------

         Under the Company's Performance Stock Plan ("PSP"), non-qualified stock
option grants were awarded to all executive officers, including Mr. Sterba, as
well as other key employees. Annual grants for 2000 were approved and awarded in
February 2000. Due to the December 31, 2000 expiration of the PSP and a delay
in the effective date of the Omnibus Performance Equity Plan, a final grant
was approved under the PSP and awarded in December 2000.

<TABLE>
<CAPTION>

                       OPTION GRANTS IN FISCAL YEAR (2000)
------------------------------------------------------------------------------------------------------------------------
                                                            Individual Grants(1)
------------------------------------------------------------------------------------------------------------------------
                        Number of       Percent of
                        Securities     Total Options
                        Underlying       Granted to      Exercise or                             Grant Date
                          Options       Employees in      Base Price     Expiration                Present
NAME                     Granted(#)      Fiscal Year       ($/Share)         Date                Value ($) (2)
------------------------------------------------------------------------------------------------------------------------
<S>                        <C>              <C>            <C>           <C>                <C>
R. J. Flynn                30,000           1.4%           $15.8125      02/07/2010            $112,200(2)(a)
                       -------------------------------------------------------------------------------------------------
                           35,000           1.7%           $24.3125      12/10/2010            $415,450(2)(b)
------------------------------------------------------------------------------------------------------------------------
M. H. Maerki               20,000           1.0%           $15.8125      02/07/2010             $74,800(2)(a)
                       -------------------------------------------------------------------------------------------------
                           29,000           1.4%           $24.3125      12/10/2010            $344,230(2)(b)
------------------------------------------------------------------------------------------------------------------------
B. F. Montoya(3)          100,000           4.8%           $15.8125      02/07/2010            $374,000(2)(a)
------------------------------------------------------------------------------------------------------------------------
P. T. Ortiz                20,000           1.0%           $15.8125      02/07/2010             $74,800(2)(a)
                       -------------------------------------------------------------------------------------------------
                           27,000           1.3%           $24.3125      12/10/2010            $320,490(2)(b)
------------------------------------------------------------------------------------------------------------------------
W. J. Real                 30,000           1.4%           $15.8125      02/07/2010            $112,200(2)(a)
                       -------------------------------------------------------------------------------------------------
                           37,000           1.8%           $24.3125      12/10/2010            $439,190(2)(b)
------------------------------------------------------------------------------------------------------------------------
J. E. Sterba              100,000           4.8%           $15.1250      03/06/2010            $351,000(2)(c)
                       -------------------------------------------------------------------------------------------------
                          100,000           4.8%           $16.1875      06/06/2010            $438,000(2)(d)
                       -------------------------------------------------------------------------------------------------
                          125,000           6.0%           $24.3125      12/10/2010          $1,483,750(2)(b)
------------------------------------------------------------------------------------------------------------------------

</TABLE>


                                      E-4
<PAGE>


(1)  The options shown in this table were granted in 2000 under the Company's
     Third Restated and Amended Public Service Company of New Mexico Performance
     Stock Plan.
(2)  The grant date valuation was calculated using the Black-Scholes option
     pricing model:

     a.   Assuming stock price volatility of 27.799%, a risk-free rate
          of return of 6.636% and an annual dividend yield of 5.06%. The
          weighted average grant date option fair value is $3.74.

     b.   Assuming stock price volatility of 58.168%, a risk-free rate
          of return of 5.36% and an annual dividend yield of 3.29%. The
          weighted average grant date option fair value is $11.87.

     c.   Assuming stock price volatility of 29.393%, a risk-free rate
          of return of 6.409% and an annual dividend yield of 5.29%. The
          weighted average grant date option fair value is $3.51.

     d.   Assuming stock price volatility of 33.948%, a risk-free rate
          of return of 6.12% and an annual dividend yield of 4.94%. The
          weighted average grant date option fair value is $4.38.

(3)  Mr. Montoya retired from the Company effective October 13, 2000; however,
     he will continue to serve as a member of the Board of Directors.



<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                       AGGREGATED OPTION EXERCISES IN 2000
                         AND 2000 YEAR-END OPTION VALUES

                                                         ------------------------------- -------------------------------
                                                              NUMBER OF SECURITIES
                                                             UNDERLYING UNEXERCISED           VALUE OF UNEXERCISED
                                                                   OPTIONS AT               IN-THE-MONEY OPTIONS AT
                                                               DECEMBER 31, 2000              DECEMBER 31, 2000(a)
------------------------------------------------------------------------------------------------------------------------
                        SHARES ACQUIRED       VALUE
NAME                     ON EXERCISE      REALIZED(d)    EXERCISABLE    UNEXERCISABLE   EXERCISABLE    UNEXERCISABLE
------------------------------------------------------------------------------------------------------------------------
<S>                        <C>             <C>           <C>             <C>            <C>              <C>
R. J. Flynn                    -                -               19,733           81,000      $111,638          $566,500
M. H. Maerki                   -                -               33,223           65,000      $235,578          $441,500
B. F. Montoya(b)           166,896(c)      $1,282,364(c)-      165,902              -0-    $1,584,381               -0-
P. T. Ortiz                    -                -               68,672           63,000      $736,941          $436,500
W. J. Real                     -                -               30,035           83,000      $209,184          $571,500
J. E. Sterba                   -                                   -0-          325,000           -0-        $2,543,750
------------------------------------------------------------------------------------------------------------------------
</TABLE>

(a)  Value equals the year-end stock price ($26.8125) minus the exercise price,
     times the number of shares underlying the option. "In-the-Money" means that
     the year-end stock price was greater than the exercise price of the option.
(b)  Mr. Montoya retired effective October 13, 2000.
(c)  Of these amounts 91,332 shares and $760,989 in value were realized after
     Mr. Montoya's retirement date of October 13, 2000.
(d)  Value of shares exercised is the market value of the shares on the exercise
     date minus the exercise price.

RETIREMENT PLAN AND RELATED MATTERS

         In December 1996, the Board of Directors approved changes to the
Company defined benefit plan ("Retirement Plan") and implementation of matching
and non-matching contributions to the 401(k) defined contribution plan effective
January 1, 1998. The Company contributions to the 401(k) plan consist of a three
percent non-matching contribution, and a 75 percent match on the first six
percent contributed by the employee on a before-tax basis.

         Through December 31, 1997, the Retirement Plan covered employees who
had at least one year of service and had attained the age of 21. Vesting
occurred after five years of service. Directors who were not employees did not


                                      E-5
<PAGE>

participate in the Retirement Plan. The Company made no contribution in 2000
to the Retirement Plan for plan year 1999, as the Retirement Plan was
adequately funded and frozen effective December 31, 1997.

         Salaries used in Retirement Plan benefit calculations were frozen as of
December 31, 1997. Additional credited service can be accrued under the
Retirement Plan up to a limit determined by age and years of service. The
Company made contributions in 1998 to the Retirement Plan for plan year 1997 in
the amount of $185,000. The amount of any contribution with respect to any one
person cannot be determined. The contribution amount is actuarially determined
based upon the number of Plan participants, the participants' age, salary, and
years of service.

         The following table illustrates the annual benefits that would be
provided under the Retirement Plan to employees who retire at the indicated
compensation and year of service levels and who elect to receive the benefits,
which are calculated on a straight-life annuity basis, over their remaining
lives. Vesting of accrued benefits would also occur in the event of a change in
control of the Company. Benefits shown are maximum annual benefits payable at
age 65 to participants who retire at age 65. The table is based on the
Retirement Plan. The amounts shown in the table are not subject to any deduction
for Social Security benefits or other offset amounts.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------

                               PENSION PLAN TABLE
----------------------------------------------------------------------------------------------------------------------
  AVERAGE OF
HIGHEST ANNUAL
  BASE SALARY                                         CREDITED YEARS OF SERVICE
     FOR 3
  CONSECUTIVE    -----------------------------------------------------------------------------------------------------
   YEARS(a)          5(b)           10             15             20            25             30          32 1/2(c)
----------------------------------------------------------------------------------------------------------------------
<S>                 <C>           <C>           <C>           <C>            <C>           <C>            <C>
   $100,000         $10,000       $20,000       $ 30,000      $ 40,000       $ 50,000      $ 60,000       $ 65,000
   $150,000          15,000        30,000         45,000        60,000         75,000        90,000         97,500
   $200,000          20,000        40,000         60,000        80,000        100,000       120,000        130,000
   $250,000          25,000        50,000         75,000       100,000        125,000       150,000        162,500
   $300,000          30,000        60,000         90,000       120,000        150,000       180,000        195,000
   $350.000          35,000        70,000        105,000       140,000        175,000       210,000        227,500
   $400,000          40,000        80,000        120,000       160,000        200,000       240,000        260,000
   $450,000          45,000        90,000        135,000       180,000        225,000       270,000        292,500
----------------------------------------------------------------------------------------------------------------------
</TABLE>

(a)  For these purposes, compensation consists of base salaries and includes any
     amount voluntarily deferred under the Company's Master Employee Savings
     Plan. Generally, compensation for these purposes does not include bonuses,
     payments for accrued vacation, or overtime pay.
(b)  Although years of service begin accumulating from the date of employment,
     vesting occurs after five years of service.
(c)  The maximum number of years generally taken into account for purposes of
     calculating benefits under the non-contributory defined benefit plan. Under
     limited circumstances, an employee working beyond age 62 could earn an
     additional 3% retirement benefit.

         Credited years of service, which can be used to calculate benefits as
shown in the above table, have been accumulated by executive officers under the
Retirement Plan, the Accelerated Management Performance Plan discussed below and
the supplemental employee retirement arrangements discussed below. Credited
years of service computed as of December 31, 2000, are as follows: Mr. Montoya,
11 years; Mr. Sterba, 23.9 years; Mr. Flynn, 6 years; Mr. Maerki, 28.5 years;
Mr. Ortiz, 10.25 years; and Mr. Real, 22.33 years. The executive officers'
remuneration that would be used to calculate benefits is determined by reference
to the Retirement Plan and the



                                      E-6
<PAGE>

supplemental employee retirement arrangements discussed below. As of December
31, 2000, the remuneration used to calculate benefits was as follows: Mr.
Montoya, $373,336; Mr. Sterba, $167,412; Mr. Flynn, $161,163; Mr. Maerki,
$170,900; Mr. Ortiz, $138,332; and Mr. Real, $135,000. The remunerator used by
the plan was frozen as of December 31, 1997.

         Under Section 401(a)(17) of the Code there is a limitation on the
amount of compensation that can be considered in determining retirement benefits
under qualified retirement plans. In June 1998, the Board of Directors approved
a plan to give executives with earnings in excess of the Code Section 401(a)(17)
limitation ($170,000 for 2000) an opportunity to more fully participate in the
Company's 401(k) plan and enable them to receive the 3% company contribution and
a 75 cent on the dollar match for the first 6% contributed by the employee for
eligible earnings in excess of the compensation limitation. The plan also
permits executives to contribute amounts in excess of the Code Section 402(g)
limitations on elective deferrals. Nine executive officers participated in the
executive savings plan in 2000.

         In January 1981, the Board of Directors approved a non-qualified
executive benefit program for a group of management employees. The Accelerated
Management Performance Plan, or AMPP, was intended to attract, motivate and
retain key management employees. Mr. Maerki and certain other key management
employees are eligible to participate in one or more of the plans in the
program. Under the program, as originally adopted, key management employees had
the opportunity to earn additional credit for years of service toward
retirement. The AMPP, as amended and restated, phased out the accumulation of
additional credits by January 1, 1990. In addition, the amended and restated
plan includes a provision that allows key management employees who have not
attained the maximum credits for years of service to receive a reduced benefit
from the plan upon accepting early retirement. Monthly benefits received
pursuant to the AMPP are offset by monthly benefits received pursuant to the
Retirement Plan.

         As approved by the Board of Directors in 1989, a supplemental employee
retirement agreement was entered into with Mr. Maerki. Under the agreement, Mr.
Maerki's retirement benefits will be computed as if he had been an employee of
the Company since February 15, 1974.

         As approved by the Board of Directors in 2000, supplemental employee
retirement agreements were entered into with Mr. Sterba and Mr. Ortiz. Under the
terms of the agreement with Mr. Sterba, he will earn additional years of
credited service so that, if he remains employed by the Company until February
28, 2005, he will be credited with 30 years of service. Mr. Sterba's agreement
also provides that, until February 28, 2005, his eligibility for retiree medical
benefits will be determined as if he attained 20 years of credited service with
the Company at age 45. Under the terms of the agreement with Mr. Ortiz, he will
earn additional years of credited service so that, if he remains employed by the
Company until January 1, 2010, he will be credited with 30 years of service.
This agreement also provides that, until Mr. Ortiz reaches the age of 55, his
eligibility for retiree medical benefits will be determined as if he had
attained 20 years of credited service with the Company at age 45.

         Under the terms of employment agreements with Mr. Montoya, he is
receiving supplemental retirement benefits computed as if he had been an
employee of the Company since August 1, 1990.



                                      E-7
<PAGE>

         The Board of Directors has approved the establishment of an irrevocable
grantor trust, under provisions of the Internal Revenue Code, generally in
connection with the AMPP and the supplemental retirement arrangements with Mr.
Montoya, Mr. Sterba, Mr. Ortiz, Mr. Maerki, and certain former executive
officers. The Company may, but is not obligated to, provide funds to the trust,
which was established with an independent trustee, to aid in meeting its
obligations under those arrangements. Funds in the amount of $12.7 million
have been provided to the trust since 1989. Distributions have been made from
the trust since 1989. No additional funds have been provided to the trust. In
connection with amendments to the Executive Retention Plan discussed below, the
executive savings program and supplemental retirement arrangements would be
required to be funded through the trust upon a change in control of the Company.

DIRECTOR COMPENSATION

         Of the Company's current Board members, only one, Mr. Sterba, is a
salaried employee. Mr. Sterba receives no compensation for serving on the Board
or its committees. Board members who are not salaried employees of the Company
receive compensation for Board service, which currently includes:

ANNUAL RETAINER:                    $20,000

ATTENDANCE FEES:                    $750 per Board meeting
                                    $500 for each Board committee meeting

COMMITTEE CHAIRS:                   $200 for each Board committee meeting
                                     (in addition to attendance fees)

         Under the Company's Director Retainer Plan, approved by shareholders in
1996, directors may choose to receive their annual retainer in the form of cash,
restricted stock or stock options. The restrictions on the restricted stock
generally lapse one-third each year following the year of the grant. The options
generally vest (become exercisable) on the date of the next annual meeting and
allow the director to purchase 2,000 shares of common stock. The exercise price
of the option is equal to the fair market value of the common stock on the date
of grant less the annual retainer divided by 2,000, subject to a minimum
exercise price.

EMPLOYMENT CONTRACTS, TERMINATION OF EMPLOYMENT
AND CHANGE IN CONTROL ARRANGEMENTS

         The Company Board of Directors adopted the Executive Retention Plan, or
the Retention Plan, effective January 1, 1992. The Retention Plan covers
executive officers and other key employees designated by the Board. The
Retention Plan provides certain severance benefits should the employee be
terminated from the Company as a result of a change in control of the Company,
and the employee is not immediately re-employed by the successor company, if
that termination is (a) for reasons other than cause, or (b) by the employee due
to constructive termination. The severance benefits include: (i) lump sum
severance equal to 2.5 times current base compensation for executive officers;
(ii) reimbursement of reasonable legal fees and expenses incurred as a result of
termination of employment; (iii) certain insurance benefits that are
substantially similar to those received by the employee immediately prior to
termination of employment; (iv) certain other amounts; and (v) if an employee



                                      E-8
<PAGE>

receives any payment due to a change in control that is subject to the excise
tax provided in Section 4999 of the Code, then the Company will reimburse the
employee in an amount equal to that which places the employee in the same
after-tax position as if no excise tax had been imposed. The Retention Plan
was effective for an initial term through December 31, 1992, and is to
continue in effect until terminated by the Board. The Retention Plan is also
subject to automatic extension, or revival if it has been terminated, for
certain events relating to potential changes in control.

         The Company also has a non-union severance pay plan that covers
non-union employees, including executives, who are terminated due to the
elimination of their positions. Executives are eligible, upon signing a
release agreement, for a lump sum payment equal to one year of base salary and
reimbursement for placement assistance expenses incurred during the year after
being terminated up to 5% of base salary. Executives are also eligible for
regular severance pay in the amount of two months of base salary plus one
additional week of base salary for each year of service, continuation of
certain insurances, and health care benefits for up to 12 months. Severance
benefits shall not exceed the equivalent of twice the participant's annual
compensation. If an employee is to receive benefits under the Retention Plan,
severance benefits are not available to that employee under the non-union
severance pay plan.

         Certain other plans in which the named executive officers
participate contain provisions that are triggered by a change in control of
the Company. These include the Performance Stock Plan, under which immediate
vesting of stock options occurs upon a change in control, and the PNM
Resources, Inc. Omnibus Performance Equity Plan, which provides for immediate
vesting upon eligible termination due to a change in control.

         The terms of the change in control provisions are similar among the
plans but do have some variations. The Board of Directors is considering whether
a uniform definition of "change in control" should be adopted to apply to all
plans.



                                      E-9

<PAGE>



                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                     PUBLIC SERVICE COMPANY OF NEW MEXICO
                                     (Registrant)

Date:  May 4, 2001                   By          /s/ John R. Loyack
                                        ----------------------------------------
                                                     John R. Loyack
                                          VICE PRESIDENT, CORPORATE CONTROLLER
                                              AND CHIEF ACCOUNTING OFFICER








                                      E-37