Drop merger, keep power, profits in NM

IN 2022, the N.M. Public Regulation Commission unanimously denied a proposed PNM merger with Avangrid, saying, it “was not designed to benefit PNM customers.” Further, “the primary beneficiary of a merger would be PNM shareholders and not customers.” At the time, the PRC, a five-person publicly elected entity, referred to ongoing investigations of (Avangrid’s primary owner) Iberdrola in Spain — into fraud, bribery and spying — and in Maine.

The PRC was replaced in 2023 by a three-person governorappointed commission after a poorly worded Constitutional Amendment in New Mexico’s 2022 elections. The new PRC has endorsed a “joint motion” asking the state Supreme Court to dismiss an appeal to reject the proposed merger.

New Mexicans need to continue to say no to this merger. Why? One simple phrase says it all, “if it smells like a fish, it’s a fish,” and a rotten one.

The previous PRC hearing examiner recommended against the merger because it could not be proven it would “be beneficial to utility customers; preserve the commission’s jurisdiction; ensure the quality of utility service will not be diminished; and prevent the improper subsidization of non-utility activities.” Based on findings from the New Energy Economy, a Santa Fe-based energy systems advocacy group, ... poor service and regulatory violations are cited as key concerns.

... We need to pursue energy solutions that benefit New Mexico residents. There are many initiatives under way which promote locally owned/ generated power. Profits from our abundant wind and energy sources should stay within our communities.

MELORA PALMER

Albuquerque