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A hearing officer with the New Mexico Public Regulation Commission has recommended against the proposed merger between PNM and Avangrid, an international energy company seeking to acquire New Mexico’s largest utility. A PNM spokesperson confirmed that the company had received notice of the hearing examiner’s decision, though it is not yet posted for public review. The case will still continue to move forward to the full PRC for a vote later this year.
Today’s decision stacks the deck against PNM. We’ll have more details on the decision and what happens next in tomorrow’s edition of The Paper.