ALBUQUERQUE, N.M. (AP) — Global energy giant Iberdrola, New Mexico’s largest electric utility and other groups are asking state regulators to present oral arguments before voting on a proposed multibillion-dollar merger.
The Public Regulation Commission has the final say on whether Iberdrola subsidiary Avangrid can acquire PNM Resources. A hearing examiner with the commission has recommended the deal be rejected, and three of the five elected commissioners said last week they oppose approval. The utilities have tried to counter critics with an advertising blitz touting benefits such as customer savings and economic development investments.
The proposed merger could affect the pace of renewable energy development in New Mexico.