Blackstone Infrastructure to Acquire TXNM Energy Pending PUCT Approval

Blackstone Infrastructure has reached a unanimous settlement with parties to acquire TXNM Energy, the parent company of Texas-New Mexico Power Company (TNMP). The settlement, which is subject to approval by the Public Utility Commission of Texas (PUCT), includes a $45.5 million rate credit to TNMP customers over 48 months. The agreement also ensures local oversight, financial protections, and workforce stability for TNMP. The acquisition aims to provide value to customers and maintain investment in infrastructure.

Counterparts (10)

Buyer

Blackstone

company · 6 deals

Blackstone is the world's largest alternative asset manager, serving institutional and individual in...

regulator

Public Utility Commission of Texas

company · 1 deals

The Public Utility Commission of Texas regulates the state's electric, telecommunication, and water ...

Other

Office of Public Utility Counsel

company · 1 deals

The Office of Public Utility Counsel (OPUC) represents Texas consumers in matters regarding electric...

Texas Energy Association for Marketers

company · 1 deals

Team Management Services GmbH is a company that provides research-based tools and methods for person...

Texas Industrial Energy Consumers

company · 1 deals

Texas Industrial Energy Consumers (TIEC) is an organization representing large industrial, commercia...

Walmart Inc.

company · 1 deals

Walmart Inc. is a multinational retail corporation that operates a chain of hypermarkets, discount d...

Valero Refining-Texas L.P.

company · 1 deals

Valero Energy Corporation is the largest global independent petroleum refiner and the largest renewa...

PNM

company · 1 deals

TXNM Energy, through its regulated utilities PNM and TNMP, serves electricity to approximately 800,0...

target

TXNM Energy

company · 1 deals

TXNM Energy is an investment firm focused on the energy sector. They provide capital and expertise t...

Texas-New Mexico Power

company · 1 deals

Texas-New Mexico Power (TNMP) is an electricity transmission and distribution service provider servi...