Public Comment Hearing Set for Proposed Blackstone Acquisition of TXNM Energy, PNM’s Parent Company

ALBUQUERQUE – The New Mexico Public Regulation Commission (PRC) has scheduled a Public Comment Hearing on the proposed acquisition of TXNM Energy, Inc., the parent company of Public Service Company of New Mexico (PNM), by Blackstone Infrastructure.

The hearing is set for Tuesday, July 28, 2026, from 1:00 p.m. to 7:00 p.m. at the University of New Mexico Student Union Building, Ballroom C, in Albuquerque.

According to the official notice issued July 9, 2026 (Docket No. 25-00060-UT), interested members of the public who are not parties to the proceeding may provide oral comments in person. No advance sign-up is required, but attendees must sign in at the entrance. Comments will be taken in the order of sign-up, though public officials may be prioritized. Each speaker is generally limited to three minutes, and the Commission may adjust timing or hold additional hearings if needed.

Ways to Participate:

• In-Person Oral Comments: Attend the July 28 hearing at the UNM Student Union Building, Ballroom C. Sign in at the entrance upon arrival. Full details in the official notice: https://www.pnm.com/documents/d/pnm.com/2026-07-09-notice-of-public-comment-hearing-25-00060

• Written Comments: Submit electronically at any time before final action via the PRC’s e360 system: https://e360.prc.nm.gov/portal/public/#/public/nm-prc/en/home. Reference Docket No. 25-00060-UT. Click the plus sign in the bottom right to submit a comment.

• Case Information & Documents: View the full docket and filings on the PRC website: https://www.prc.nm.gov/pnm_acquisition_case_information/

• Accessibility Assistance: Persons with disabilities requiring special accommodations should contact the PRC Consumer Relations Division at (505) 827-8019 as soon as possible.

Background on the Proposed Deal

TXNM Energy announced the agreement with Blackstone Infrastructure on May 19, 2025. Under the terms, TXNM shareholders would receive $61.25 per share in cash. The $11.5 billion transaction requires regulatory approvals in New Mexico and has already received approvals in Texas and certain federal clearances.

The companies have stated that the acquisition would provide PNM with additional financial resources to invest in reliable power service amid a changing energy landscape, including a commitment to customer benefits such as a $105 million rate credit and $175 million total in community support.

The deal has faced scrutiny from consumer advocates, the state Attorney General, and some members of the public concerned about private equity ownership of a regulated utility, potential impacts on rates, service reliability, and long-term investment in New Mexico.

The PRC must approve the transaction for it to proceed in New Mexico. A joint application was filed on August 25, 2025, and the process has included procedural adjustments and prior opportunities for public input.

This hearing offers New Mexicans, including residents in PNM’s service territory across the state (which includes portions of Otero County served by PNM), a key opportunity to voice concerns or support directly to regulators before a final decision.

Alamogordo Town News will continue to monitor developments in this case and their potential impact on local energy rates, reliability, and economic development.

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