Blackstone Infrastructure Acquires TXNM Energy in Unanimous Settlement

Texas-New Mexico Power Company (TNMP) and Blackstone Infrastructure have reached a unanimous settlement with parties in its filed application with the Public Utility Commission of Texas (PUCT) for Blackstone Infrastructure to acquire the outstanding common stock of TXNM Energy. The settlement includes a $45.5 million rate credit to customers, strong governance and local oversight, and financial protections, among other provisions. The PUCT hearings scheduled to begin on December 15, 2025, have been canceled, and the filing and additional materials are available on the company's website.