P N M R E S O U R C E S • 2 0 0 3 A n n u a l R e p o r t t o S h a r e h o l d e r s 89 88 COMPARATIVE OPERATING STATISTICS COMPARATIVE OPERATING STATISTICS 2003 2002 2001 2000 1999 Utility Operations Sales: Energy Sales--KWh (in thousands): Residential 2,405,488 2,298,542 2,197,889 2,171,945 2,027,589  Commercial 3,379,147 3,254,576 3,213,208 3,133,996 2,981,656  Industrial 1,346,940 1,612,723 1,603,266 1,544,367 1,559,155  Other ultimate customers 221,137 240,665 240,934 238,635 235,183  TOTAL KWH SALES 7,352,712 7,406,506 7,255,297 7,088,943 6,803,583 Gas Throughput—Decatherms (in thousands): Residential 27,416 29,627 27,848 28,810 32,121 Commercial 10,810 12,009 10,421 9,859 11,106 Industrial 485 749 3,920 5,038 2,338 Other 5,510 4,807 4,355 6,426 6,538 TOTAL GAS SALES 44,221 47,192 46,544 50,133 52,103 Transportation throughput 50,756 44,889 51,395 44,871 40,161  TOTAL GAS THROUGHPUT 94,977 92,081 97,939 95,004 92,264  Revenues (in thousands): Electric Revenues: Residential $ 203,710 $ 197,174 $ 187,600 $ 186,133 $ 184,088  Commercial 252,876 247,800 242,372 238,243 238,830  Industrial 67,388 82,009 82,752 79,671 85,828  Other ultimate customers 14,069 14,942 14,795 14,618 13,777  TOTAL REVENUES TO ULTIMATE CUSTOMERS 538,043 541,925 527,519 518,665 522,523  Transmission revenues 19,453 23,150 26,553 16,855 15,519 Miscellaneous electric revenues 5,807 5,014 5,154 3,163 2,826 TOTAL ELECTRIC REVENUES $ 563,303 $ 570,089 $ 559,226 $ 538,683 $ 540,868 Gas Revenues: Residential $ 226,799 $ 176,284 $ 221,409 $ 203,208 $ 160,311 Commercial 72,269 53,734 65,654 56,283 39,311 Industrial 2,820 2,872 27,519 24,206 8,550 Other 37,473 26,781 36,495 37,360 26,168 Revenues from gas sales 339,361 259,671 351,077 321,057 234,340 Transportation 18,906 17,735 20,188 14,163 12,390 TOTAL GAS REVENUES $ 358,267 $ 277,406 $ 371,265 $ 335,220 $ 246,730 TOTAL UTILITY REVENUES $ 921,570 $ 847,495 $ 930,491 $ 873,903 $ 787,598 2003 2002 2001 2000 1999 Utility Customers at Year End: Electric: Residential 358,099 345,588 340,656 332,332 321,949  Commercial 42,391 41,092 40,065 39,525 38,435  Industrial 296 311 377 371 375  Other ultimate customers 822 796 924 625 625  TOTAL ULTIMATE CUSTOMERS 401,608 387,787 382,022 372,853 361,384  Sales for Resale 72 76 79 81 83  TOTAL CUSTOMERS 401,680 387,863 382,101 372,934 361,467  Gas: Residential 421,104 411,642 404,753 398,623 390,428 Commercial 34,645 35,194 32,894 32,626 32,116 Industrial 46 58 50 50 51 Other 2,983 3,664 3,528 3,612 3,688 Transportation 40 27 34 32 32 TOTAL CUSTOMERS 458,818 450,585 441,259 434,943 426,315 Wholesale Operations Sales: Energy Sales—MWh: Long-term contracts 2,719,432 844,168 1,463,031 330,003 1,185,916 Forward sales 3,237,525 - - - - Short-term sales 5,531,019 7,269,242 10,596,004 10,213,725 8,585,705 TOTAL SALES TO ULTIMATE CUSTOMERS 11,487,976 8,113,410 12,059,035 10,543,728 9,771,621 Revenues (in thousands): Long-term contracts $ 147,447 $ 58,546 $ 77,250 $ 87,731 $ 66,353 Forward sales 151,543 3,575 (2,572) (14,768) (2,300) Short-term sales 234,843 207,674 1,247,471 577,811 260,856 TOTAL WHOLESALE REVENUES $ 533,833 $ 269,795 $ 1,322,149 $ 650,774 $ 324,909 Customers at Year End: Wholesale 72 76 79 81 83 Generation Statistics: Reliable Net Capability—KW 1,742,000 1,734,000 1,521,000 1,521,000 1,521,000  Coincidental Peak Demand—KW 1,661,000 1,456,000 1,397,000 1,368,000 1,291,000  Average Fuel Cost per Million BTU $ 1.4120 $ 1.3910 $ 1.6007 $ 1.3827 $ 1.3169  BTU per KWh of Net Generation 10,854 10,568 10,549 10,547 10,490 