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Steve Fischmann: What does Blackstone’s purchase of PNM mean?

Published:

March 25, 2026

Reading time: 2 min.

Steve Fischmann What happens when the owner of a public utility also becomes its dominant customer? Private equity behemoth Blackstone will own New Mexico’s largest utility, PNM, by year end if it receives PRC approval. It has publicly declared a…

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