TXNM Energy files regulatory applications for approval of proposed acquisition

TXNM Energy (TXNM) filed applications for approval of its proposed acquisition by Blackstone Infrastructure (BX) with the New Mexico Public Regulation Commission, Public Utility Commission of Texas and Federal Energy Regulatory Commission. The NMPRC regulates PNM, TXNM Energy’s wholly owned utility in New Mexico that delivers electricity to approximately 550,000 customers. The NMPRC does not have a statutory timeframe for consideration of the application. TXNM Energy anticipates that the review process will take up to a year to complete. The PUCT regulates TNMP, TXNM Energy’s wholly owned transmission and distribution utility in Texas that delivers electricity to approximately 280,000 customers. The PUCT has a 180-day statutory timeframe for consideration of the application. FERC regulates PNM’s wholesale electricity and transmission services. The filing demonstrates that the acquisition is consistent with the public interest because it will not have an adverse effect on competition, rates, and regulation and will not result in any inappropriate cross-subsidization. The FERC has a 180-day statutory timeframe for consideration of the application.