#USA #Texas #TXNM Energy #Blackstone Infrastructure #PUCT

Texas Commission Greenlights TXNM Energy Acquisition

In a landmark decision, the Public Utility Commission of Texas (PUCT) has officially approved the acquisition of Texas-New Mexico Power Company (TNMP) by Blackstone Infrastructure. This acquisition, which applies to TXNM Energy, the parent company of TNMP, ensures a commitment to public interest and customer benefits within the state.

The unanimous decision comes after a carefully structured settlement agreement that outlines various safeguards and commitments as part of the acquisition process. Notably, TXNM Energy will provide $45 million in rate credits to customers, reinforcing its dedication to affordability and customer satisfaction. The terms include significant financial protections, local governance oversight, and ring-fencing to ensure that customers and stakeholders are adequately protected throughout this transition.

The settlement agreement reached in December involved extensive collaboration among multiple stakeholders, including representatives from the Texas Industrial Energy Consumers, the Office of Public Utility Counsel, and cities served by TNMP. Even retail giant Walmart Inc. and the Texas Energy Association for Marketers contributed to shaping this agreement, ensuring that all perspectives were effectively represented and considered.

This approval marks an essential step for TXNM Energy, which provides energy services to over 800,000 homes and businesses across both Texas and New Mexico through its regulated utilities. The merger has previously received backing from TXNM Energy shareholders, who overwhelmingly endorsed this transformative merger in August 2025, paving the way for this latest approval.

However, several additional regulatory hurdles remain. The acquisition is also subject to federal approvals from the Federal Energy Regulatory Commission (FERC) and the Nuclear Regulatory Commission, in addition to state-level clearance from the New Mexico Public Regulation Commission concerning its New Mexico operations. These steps will ensure that the transition occurs smoothly and that all regulatory requirements are met efficiently.

The PUCT's approval highlights a socially-responsible approach, demonstrating a robust commitment to the communities TXNM Energy serves. Under this new structure, commitments to support a five-year capital expenditure plan will bolster infrastructure development while creating jobs within local economies. This move aims to prioritize customer and regulatory protections while establishing a solid foundation for the company’s future operational strategies.

For TXNM Energy, the merger represents more than just a change in ownership; it embodies a new phase of growth and stability in a highly competitive energy market. By fostering local control and providing workforce protections, TXNM Energy seeks to continue its tradition of reliable service and innovation. In conjunction with the commitment to fund its capital expenditure projects, the acquisition aligns with TXNM Energy's long-term vision for sustainable growth that benefits all stakeholders.

To learn more about the acquisition details and ongoing developments, interested parties can explore further information available on TXNM Energy’s dedicated investor page.

As this acquisition unfolds, it will be closely monitored by industry experts and customers alike, who anticipate seeing the tangible benefits that this significant merger will potentially usher in for the energy landscape in Texas. This decision marks a crucial development in the ongoing evolution of energy infrastructure, regulatory compliance, and customer service excellence in the region.