NEW MEXICO (KRQE) – PNM is one step closer to new ownership under the biggest investment firm on the planet. Last weekend, the Federal Energy Regulatory Commission signed off on the $11.5 billion acquisition by Blackstone.
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Several public comment meetings have taken place throughout New Mexico. A vast majority of consumers spoke out against the deal, with concerns that it would raise electric bills. PNM’s parent company announced it would be purchased by the New York-based investment company last year. The merger still needs more federal approval from the Nuclear Regulatory Commission and from the New Mexico Public Regulation Commission.
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