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Hearings Scheduled on Amended Stipulation for PNM Resources' Merger with AVANGRID


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 fi ....

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Support Continues to Build for Merger as Two Additional Parties Seek to Join PNM and AVANGRID Merger Stipulation


Support Continues to Build for Merger as Two Additional Parties Seek to Join PNM and AVANGRID Merger Stipulation
Motion could bring the total parties to 13 as signatories supporting the merger
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ALBUQUERQUE, N.M., May 25, 2021 /PRNewswire/ PNM Resources, Inc. (NYSE: PNM) wholly-owned New Mexico subsidiary, Public Service Company of New Mexico (PNM), and AVANGRID announced two additional parties filed motions to join its merger stipulation before the New Mexico Public Regulation Commission (NMPRC).
Under the filing, M-S-R Power and Los Alamos County request the Hearing Examiner allow the parties to join the other 11 signatories supporting the agreement, under the condition that agreed-upon language to support the decommissioning of the San Juan Generating Station is added to the agreement. ....

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Revised Stipulation Agreement for AVANGRID/PNM Resources Merger Receives Additional Support From New Mexico Stakeholders


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AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, yesterday filed its revised stipulation agreement as part of the company’s planned merger with PNM Resources, Inc. (NYSE: PNMR), adding three new parties as signatories, including Walmart, Inc., the Interwest Energy Alliance and Onward Energy Holdings, Inc. They join eight parties that have already signed on to the agreement, including the Attorney General of the State of New Mexico, Western Resource Advocates, the International Brotherhood of Electrical Workers Local 611, Dine Citizens Against Ruining Our Environment, Nava Education Project, San Juan Citizens Alliance, To Nizhoni Ani and the Coalition for Clean Affordable Energy. The company submitted the revised filing following talks with all parties at the direction of the New Mexico Public Regulation Commission (NMPRC) hearing examiner. ....

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