TXNM, Blackstone Sweeten PNM Merger Deal With $300M Package
Image
Albuquerque, N.M. – – September 18, 2026 -- TXNM Energy and Blackstone Infrastructure have filed a motion with the New Mexico Public Regulation Commission (NMPRC) seeking to submit a revised merger application that raises total customer and community benefits to $300 million, more than doubling direct rate credits from the original proposal.
Direct customer rate credits jump to $220 million
The draft revised application increases direct customer rate credits to $220 million, over double the commitment in the initial filing. It also allocates $40 million for workforce and economic development, including job training, scholarships and apprenticeships coordinated with state and local stakeholders.