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Santa Fe County backs opposition to Blackstone'9s proposed acquisition of PNM, cites local-control and transparency concerns
Summary
The Board of County Commissioners voted to send a letter to the state Public Regulation Commission opposing Blackstone Infrastructure Partners'9 proposed acquisition of PNM, citing concerns about private equity ownership, transparency, potential rate impacts and local control; the vote included at least one abstention.
Santa Fe County commissioners voted to submit a formal letter to the New Mexico Public Regulation Commission opposing the proposed acquisition of PNM by Blackstone Infrastructure Partners, expressing concerns that private equity ownership could reduce transparency and prioritize investor returns over local ratepayers.
Commissioner Adam Johnson outlined the board'9s primary objections: he said Blackstone'9s pre-application stock purchases present legal and oversight questions and that…
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