Public Service Company of New Mexico on Monday appealed to the New Mexico Supreme Court the rejection of its proposed merger with two other companies by state regulators.

The two companies, Avangrid of Connecticut and Iberdrola of Spain, signed on to the appeal with PNM. The proposed deal was valued at $8.3 billion and would have put PNM under the Avangrid umbrella. Avangrid's parent company is Iberdrola.

The New Mexico Public Regulation Commission last month rejected the three companies' merger plan. The commission cited numerous reasons, including Avangrid subsidiaries' service record in the Northeastern U.S.

The five-member commission also objected to some of the tactics utilized by the companies in trying to get their plan through the state agency. The commission assessed Avangrid a $10,000 fine for not being completely forthcoming about penalties its subsidiaries had to pay in the Northeast.

A spokesman for PNM, Ray Sandoval, said Monday the applicants will lay out their arguments within the next 30 days.

PNM last month also appealed a PRC decision against its proposal to leave the Four Corners Power Plant by turning its share of the plant over to Navajo Transitional Energy Co.

(6) comments

jarratt applewhite

The UNANIMOUS rejection of this merger was one of the final actions of the last PRC whose members were elected. The five member panel will be replaced by a three member board of "experts" appointed by pols soon.

My guess is that Avangrid will have an easier time reversing this decision with the new appointed officials than with the Supremes.

The execrable hoodwinking that was Constitutional Amendment 1 on our last general election ballot should be enshrined in the Hoodwinking Hall of Fame.

Chris Mechels

Like all "agreements" with PNM, they WILL get what they bargained for, and the government MIGHT get their bit. Governments come and go, PNM lives forever, perhaps renamed. Corrupt governments, like ours, can be bought, for a modest price. The MLG deals with PNM, just eyewash. The next PRC, a horror show.

Cheryl Odom

PNM is like a skunk at a green energy picnic.

Mike Johnson

I do hope the Supremes hold closely to the law and Constitution here, and resist the inevitable heavy political pressure from MLG, Hector, and the other left wing special interests. We will see.

Richard Reinders

[thumbup]

Richard Reinders

Let’s hope the courts are not bought and paid for, this should be a slam dunk for the courts to uphold the commissions decisions.

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