Private equity firm returns $13.3M to PNM’s parent company following criticism

By: Joshua Bowling

Outlets: Source New Mexico

Published: August 13, 2026

Words: 394

Last Updated: 5 days, 6 hours ago

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The private equity firm seeking to acquire New Mexico’s largest electric provider has returned more than $13 million in dividends it earned from a stock sale that state utility regulators in July determined to be illegal, recent filings show.

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The New Mexico Public Regulation Commission in July voted 2-1 to rule that a $400 million stock transaction between a Blackstone Infrastructure affiliate and TXNM Energy Inc., …

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