NEW MEXICO (KRQE) – PNM filed an application with the New Mexico Public Regulation Commission on Monday, seeking approval for the utility's parent company, TXNM Energy, to be acquired by Blackstone Infrastructure.

If approved, the deal would be worth $11.5 billion and would include a $105-million rate credit for customers paid over four years. That credit is expected to lower electric bills by 3.5%.

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"The benefits in this filing are unprecedent

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