Half a million PNM customers impacted by potential acquisition

New Mexico News

NEW MEXICO (KRQE) – The Public Service of New Mexico plans to move ahead with its request to merge with an out-of-state company. Connecticut-based Avangrid wants to acquire PNM.


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The $4.3 billion deal would impact 530,000 PNM customers. PNM says after discussion they, along with Avangrid, have agreed to all conditions outlined by the hearing examiner. They will delay proposing a rate increase for customers until December of next year. That’s six months later than they previously proposed.

They also promise an additional $10 million in economic development and a total of $300 million in economic impact. They will now seek approval of the merger from the public regulation commission.

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