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Texas PUC Approves Blackstone Infrastructure Acquisition Of Texas-New Mexico Power
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TXNM Energy, Inc. said today that the Public Utility Commission of Texas (PUCT) approved a unanimous settlement filed in the application by Texas-New Mexico Power Company (TNMP) for TXNM Energy, the parent company of TNMP, to be acquired by Blackstone Infrastructure
As previously reported, with respect to retail market and affiliate issues, the settlement provides that if a "controlled affiliate" of Blackstone Infrastructure seeks certification from the PUC to become an Option 1 retail electric provider, TNMP will provide notice of that certification docket to the parties in the merger case.
The settlement does not bar Blackstone Infrastructure or affiliates from owning an Option 1 REP.
Under the settlement, TNMP will provide a direct financial benefit to customers in the form of a rate credit of $45.5 million to be paid over 48 months following the closing of the acquisition. The settlement was not explicit as to the mechanism for this credit (i.e required to be passed through by the customer's REP), or on timing (aligned with the date for other rate changes, etc)
See more background on the settlement, and retail-related terms, here
The merger also requires federal approval from the Federal Energy Regulatory Commission (FERC) and the Nuclear Regulatory Commission, along with state approval from the New Mexico Public Regulation Commission (NMPRC) as it relates to Public Service Company of New Mexico (PNM), the New Mexico utility subsidiary of TXNM Energy.
PUCT Docket 58536
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February 6, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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