TXNM Energy today filed comprehensive applications for approval of its proposed acquisition by Blackstone Infrastructure with the New Mexico Public Regulation Commission (NMPRC), the Public Utility Commission of Texas (PUCT), and the Federal Energy Regulatory Commission (FERC). These filings are critical steps toward finalizing the $11.5 billion transaction.
The NMPRC application for PNM, TXNM Energy's New Mexico utility, includes substantial benefits for customers and communities. These benefits comprise a $105 million rate credit over four years, a $10 million contribution to the PNM Good Neighbor Fund over 10 years, $35 million in economic development funding, and $25 million for innovative technologies supporting New Mexico's carbon-free energy transition.
For TNMP, TXNM Energy's Texas utility, the PUCT filing outlines benefits including a $35 million rate credit over four years, $10 million in economic development funding over 10 years for workforce development, and $5 million in additional community support over 10 years. The PUCT and FERC have statutory timeframes of 180 days for consideration, while the NMPRC review process is anticipated to take up to a year.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.