TXNM Energy and Blackstone Infrastructure Propose $300 Million in Customer Benefits as Part of Merger Application
TXNM Energy (NYSE: TXNM) and Blackstone Infrastructure have submitted a revised merger application to the New Mexico Public Regulation Commission that includes enhanced commitments totaling $300 million in customer and community benefits. The proposal more than doubles direct rate credits for customers, expands workforce development initiatives, and supports investments in virtual power plant technology and low-income assistance programs. The draft also commits nearly $5 billion toward PNM's capital investment plan to modernize New Mexico’s electric grid while maintaining local management and headquarters operations within the state. The companies emphasized that these commitments aim to ensure reliable energy delivery, affordability for customers, and long-term economic development in alignment with clean energy goals. The revised application remains subject to regulatory approval by the NMPRC and other customary authorities.
Topics: customer benefits energy infrastructure investment workforce development