PNM, Avangrid address questions on proposed merger

Business

NEW MEXICO (KRQE) – The state attorney general joined representatives from PNM and Avangrid to discuss their proposed merger which has brought great opposition. If the multi-billion dollar deal is approved, the New England-based Avangrid would get more than 500,000 New Mexico customers along with access to transmission lines and other infrastructure.


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However, some on the PRC have expressed concerns about Avandgrid’s reputation of bad business practices citing an open investigation in Spain. New Mexico Attorney General Hector Balderas says he’s concerned commissioners have already made up their minds and are not being impartial.

“I was hoping where I would hear yesterday where commissioners would point the evidence in the record, and they would also critically look at that evidence, and really dissect the examiner’s conclusions, or support an alternative finding that the examiner was making,” said Balderas.

Avangrid says there are safeguards for customers built into the deal.

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