PNM Buyout Stalled by State Regulators | Albuquerque News

PNM, New Mexico’s largest electric company, is stuck in legal limbo after secretly executing a $400 million stock deal without regulator approval—prompting Blackstone’s billion-dollar buyout to stall. While most New Mexicans fear Blackstone’s profit-driven motives won’t serve local families, some business groups see the deal as a lifeline for overdue infrastructure upgrades. With regulators demanding a compliance plan to undo the illegal transaction and PNM yet to submit one, the future of New Mexico’s energy landscape hangs in the balance. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f25877222d0e7688