Frequently Asked Questions

No. The New Mexico Public Regulation Commission (NMPRC) retains complete authority over rate setting. Additionally, FERC found "no evidence that the proposed transaction will have an adverse effect on rates."

The $105 million customer rate credit will be applied directly to customer bills. This represents the largest acquisition rate credit in New Mexico history. No action is required by customers—the credit will be applied automatically.

As is the case today, any rate changes—whether up or down—must be approved by the NMPRC through a transparent public process. Blackstone Infrastructure has committed to working with regulators to ensure long-term rate stability.

The rate credit will be implemented following regulatory approval and closing of the transaction. The specific timeline will be determined by the NMPRC.

No. PNM will continue to operate as it always has, with the same local teams providing the same reliable service. Customer service phone numbers, emergency response, and day-to-day operations remain unchanged.

PNM will remain headquartered in New Mexico and led by local management. The same teams will continue to serve you.

PNM employees will continue in their roles.

Yes. All existing labor agreements will be honored, and the IBEW partnership will continue. This includes collaboration on infrastructure projects, workforce training, and maintaining the highest safety standards.

Yes. PNM will remain headquartered in Albuquerque, with local management and local employees. 

Day-to-day operational decisions will continue to be made by local PNM management.

The transaction includes $239 million in customer and community benefits, including:

The $10 million investment over 10 years triples current annual funding. This means more customers will qualify for assistance, and those who do will receive more help. The fund supports bill payment assistance and energy efficiency programs.

The $35 million investment will support utility-related job training, apprenticeships with local unions, scholarships for New Mexico students, and broader economic development initiatives.

This investment enables PNM to accelerate its path toward an affordable and reliable 100% carbon-free energy future. Blackstone Infrastructure is investing $25 million in clean technology, supporting the goals of New Mexico's Energy Transition Act.

Yes. Blackstone Infrastructure's long-term capital commitment enables PNM to accelerate renewable energy deployment while maintaining reliability and affordability.

Blackstone Infrastructure and PNM are committed to continued partnership with New Mexico's 23 federally recognized tribes, including the Navajo Nation. This includes ongoing engagement, support for tribal energy initiatives, and economic development partnerships.

The transaction requires approval from the New Mexico Public Regulation Commission (NMPRC). Federal approval from FERC has already been received, and Texas regulators unanimously approved the transaction.

You can submit comments to the NMPRC, attend public hearings, and contact your elected representatives.

All public filings are available in the Resources & Filings section of this website and on the NMPRC website.

Blackstone Infrastructure is one of the world's leading infrastructure investors, with a long-term, patient capital investment approach and a track record of partnering with essential infrastructure providers.

Blackstone Infrastructure’s long-term investment provides the capital needed to modernize the state’s energy grid, support economic development, and accelerate the transition to clean energy.