The AP-10 Phase Identification System, commercialized by PNM Resources subsidiary Avistar, quick- ly and easily identifies the current phase on a “hot” line. Avistar has already sold a number of pre- production units of this patented technology to other utilities. Mounted on a remote-control robot, the Mutual Inductance Bridge technology developed by Avistar helps engineers decide where boiler maintenance is needed, minimizing costly power plant outage time. ENABLING ORDINARY PEOPLE TO ACCOMPLISH EXTRAORDINARY THINGS. The PNM emphasis on process improvement is about finding ways to do things better in all parts of our company. Applying leading-edge technology solutions to do everything from bringing wind power to the grid in record time to getting the lights back on as fast as possible after an outage benefits both customers and shareholders. “When we were called on to integrate the Wind Energy Center into the electric grid in 2003, PNM engineers rose to the challenge. We designed, built and energized the project in less than 5 months.” GENE WOLF Principal Engineer PNM RESOURCES • 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 9 SUSTAINABILITY : In December 2003 PNM Resources adopted a visionary new plan that sets ambitious five-year goals in: WATER CONSERVATION. To reduce the amount of fresh water used in PNM power genera- tion by 15 to 20 percent. AIR QUALITY. To reduce the emissions coming out of our power plants by up to 15 percent.  WASTE. To reduce the waste  streams generated by our  company by 15 percent. RENEWABLE SUCCESS More than 4,000 retail customers have signed up to  buy the clean, renewable electricity generated by the  New Mexico Wind Energy Center. 8