EXHIBIT 21
Subsidiaries of TXNM Energy, Inc.
As of December 31, 2024, TXNM Energy, Inc. directly or indirectly owns all of the voting securities of the following subsidiaries:
Public Service Company of New Mexico, a New Mexico corporation that does business under the names “Public Service Company of New Mexico” and “PNM”.
PNM Energy Transition Bond Company I, LLC, a New Mexico corporation that does business under the name "ETBC I" (a wholly-owned subsidiary of PNM)
Texas-New Mexico Power Company, a Texas corporation that does business under the name “Texas-New Mexico Power Company” and “TNMP”.
TNP Enterprises, Inc., a Texas corporation that does business under its corporate name.
The remaining subsidiaries of TXNM Energy, Inc. considered in the aggregate as a single subsidiary, do not constitute a "significant subsidiary" (as defined in Rule 1-02(w) of Regulation S-X) as of the end of the year covered by this report.
