PNM Acquisition Case Information

Case no. 25-00060-UT, In the matter of the joint application of Public Service Company of New Mexico, TXNM Energy Inc., and Troy Parentco LLC for approval of an acquisition and merger of Troy Merger Sub Inc. with TXNM Energy Inc.; approval of a general diversification plan; and all other authorizations and approvals required to consummate and implement this transaction.

On August 25, 2025, Public Service Company of New Mexico (PNM) and TXNM Energy, Inc. (TXNM) filed an application with the New Mexico Public Regulation Commission requesting approval to be acquired by Troy ParentCo LLC (Troy), a subsidiary of Blackstone Infrastructure. If the Acquisition is completed, PNM will be an indirectly-owned subsidiary of Troy.

Use the following link to look up filings or post your public comment on the PRCe360 Docket. 

How to provide public comment or look up a filing on PRCe360: PRCe360 User Guide

A Public Comment Hearing for this case has been scheduled for 4-7 p.m. on February 5, 2026. Resumption of this Public Comment Hearing will be held via YouTube and Zoom on Thursday, February 12, 2026 from 3:00 p.m. to 7:00 p.m. Click here for more information on how to attend virtually.

If you wish to give feedback on this matter, there are designated periods during the Commission’s regular open meetings to provide public comment in person or online; click here to view the open meeting schedule. To sign up, send an email to public.comment@prc.nm.gov or call 505-490-7910 by 5 p.m. the day prior to the meeting. It’s not necessary to sign up if comments will be given in person. You may also submit a written comment by following this guide or Commission Records Management Bureau, P.O. Box 1269, Santa Fe, NM 87504.