New Mexico Gas Sale Approved
The approval includes $22.4 million in bill credits, a rate freeze through January 2028 and about 20 new jobs.
- The New Mexico Public Regulation Commission approved the $1.25 billion sale of New Mexico Gas Company from Emera Inc. to Bernhard Capital Partners, shifting parent-company ownership of the state's largest natural gas utility.
- Conditions attached to the approval include $22.4 million in bill credits, a base rate freeze through January 2028, and a $10 million economic development investment, while mandating creation of about 20 new full-time jobs in New Mexico.
- Regulators included safeguards ensuring NMGC finances remain separate from parent-company private-equity operations, while banning recovery of any transaction or transition costs through customer rates.
- Emera expects to close the transaction in August 2026, deploying the estimated $650–$700 million in after-tax proceeds toward investments and debt repayment. President Scott Balfour, Chief Executive Officer of Emera Inc., called the approval an "important milestone."
- Bernhard Senior Managing Director Jeff Baudier said the firm views this as "an investment in exceptional people, a strong utility and the communities it serves," pledging to maintain safe, reliable service across New Mexico.
11 Articles
11 Articles
New Mexico gas sale approved
New Mexico gas sale approved
Sale of New Mexico Gas Company approved by New Mexico Public Regulation Commission
NEW MEXICO (KRQE) – The New Mexico Public Regulation Commission (NMPRC) has approved the sale of the New Mexico Gas Company (NMGC) to Saturn Utilities Holdco, LLC, an affiliate of Bernhard Cap…
Regulators approve sale of New Mexico Gas Company
New Mexico regulators approved the $1.25 billion sale of New Mexico Gas Company with conditions including bill credits, a rate freeze, job requirements and economic development funding. The post Regulators approve sale of New Mexico Gas Company appeared first on KOB 4.
Source New Mexico
ksfr.orgNew Mexico utility regulators approve NM Gas Co sale to private equity firm
The New Mexico Public Regulation Commission on July 30, 2026, approved the sale of New Mexico Gas Company to a subsidiary of a private equity firm in a 2-1 vote. (Danielle Prokop/Source NM)The New Mexico Public Regulation Commission approved the sale of New Mexico Gas Company to an affiliate of a Louisiana-based private equity firm in a 2-1 vote Thursday. GET THE MORNING HEADLINES. SUBSCRIBE The controversial, nearly $1.3 billion sale carries …
Final Approval Received for Emera's Sale of New Mexico Gas Company
HALIFAX, Nova Scotia — Emera Inc. (TSX/NYSE: EMA) today announced it has received final approval from the New Mexico Public Regulation Commission (NMPRC) for the sale of New Mexico Gas Company (NMGC) to Bernhard Capital Partners (Bernhard). “This approval marks an important milestone for Emera and supports our long-term growth objectives,” said Scott Balfour, President […]
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