07:13 AM EDT, 10/04/2024 (MT Newswires) -- TXNM Energy ( TXNM ) said Friday its TNMP unit has received approval from the Public Utility Commission of Texas, or PUCT, for its transmission cost of service and distribution cost recovery factor applications.

The regulator approved TNMP's application on Sept. 20 for an interim update of wholesale transmission rates with an annual rate hike of $3.9 million, the company added. The associated rates are effective upon approval.

The PUCT also approved TNMP's application to amend its distribution cost recovery factor on Thursday with an annual rate hike of $7.7 million, the company said. The associated rates will be effective in roughly 45 days.