The Federal Energy Regulatory Commission (FERC) on Feb. 20 authorized the application for TXNM Energy to be acquired by Blackstone Infrastructure.
The FERC order states that the transaction is consistent with the public interest, and there is “no evidence that either state or federal regulation will be impaired” by Blackstone’s proposed purchase of TXNM Energy, an energy holding company based in Albuquerque, N.M., that delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM.
Additionally, there’s “no evidence that the proposed transaction will have an adverse effect on rates” and the proposed transaction will not have an adverse effect on horizontal or vertical competition, according to FERC’s order…