Hearings Scheduled on Amended Stipulation for PNM Resources Merger with AVANGRID
Stipulated agreement combines interests of PNM, AVANGRID and 13 other parties to bring over $270 million in benefits to New Mexico, one remaining approval required for the merger expected to close in 2021
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ALBUQUERQUE, N.M., June 1, 2021 /PRNewswire/ On Friday, the Hearing Examiner for the New Mexico Public Regulation Commission (NMPRC) set the remaining procedural schedule for the amended stipulation in the merger application of Public Service Company of New Mexico (PNM) and its parent company, PNM Resources, Inc. (NYSE: PNM), with AVANGRID (NYSE: AGR). This schedule comes after AVANGRID addressed regulatory issues for its northeastern regional utility subsidiaries on service quality standards, including details on routine reviews management audits that are typical for investor-owned utilities in those jurisdictions. The filing reflected AVA
The San Juan Generating Station is pictured Monday, April 19, 2021, in Waterflow.
Enchant Energy faces “insurmountable” obstacles as it works to acquire the San Juan Generating Station and retrofit it with carbon capture technology, according to David Schissel, director of resource planning analysis for the Institute for Energy Economics and Financial Analysis.
Schissel authored a report released on Thursday looking at the lack of investors and progress on the project.
He said his key message is that the project has not made much progress and that investors are “clearly skeptical.” He said there are likely insurmountable economic issues and that the community near the San Juan Generating Station should be prepared for the power plant to close, which will lead to lost jobs and lost tax revenue.
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/PRNewswire/ PNM Resources, Inc. (NYSE: PNM) and AVANGRID (NYSE: AGR) yesterday received approval from the sixth regulatory entity, the Nuclear Regulatory.