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Study of state investments in utilities fails to advance after heated debate and tie vote
Summary
Senate Memorial 9, which sought a Legislative Finance Committee study into whether New Mexico should invest in utilities such as PNM and NMGas, drew extensive testimony for and against. An amendment removing the Public Regulation Commission and a subsequent due‑pass vote produced a tie; the memorial will not move forward from committee.
Senate Memorial 9, which asked the Legislature’s oversight arm to study whether New Mexico should consider investing in major utilities (including PNM and NMGas) instead of allowing long‑term value to flow to out‑of‑state owners, failed to advance from the Senate Rules Committee after extensive testimony and a tie vote.
Sponsor remarks framed the memorial as a data‑driven study to determine whether state investment could preserve public benefit from utility value, support the Energy Transition Act (ETA) obligations and diversify revenue. "The…
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