Protesters rallied outside of PNM’s headquarters on Thursday, April 30 to protest against Blackstone Infrastructure’s proposed acquisition of PNM, calling for the utaility to “change their mind” and “say no to Blackstone” through musical lyrics.
The protest coincided with a virtual Public Regulation Commission hearing, during which lawyers representing PNM and Blackstone argued that TXNM’s $400 million stock sale without PRC approval did not violate state law, according to Source NM.
In a statement to the Daily Lobo, Vice President of Investor and Community Relations for PNM Lisa Goodman wrote a response to the protest.
“We respect their right to protest. We respectfully disagree with their factually inaccurate assertions,” the Goodman statement reads.
Community organizer Sarah Bradley was among those protesting outside of PNM’s headquarters, and said she thinks it’s an “outrage” that New Mexico’s public services are “potentially being sold off to private equity.”
“I hope that the PRC represents the people of New Mexico, and not billionaires and their lies," Bradley said. “These are the things that should be in control of the people, by the people's representatives. These are not the kinds of things that should be under the control of some billionaire 2,000 miles away.”
The PRC hearing came after attorneys for the nonprofit Prosperity Works filed a motion requesting that Blackstone and its affiliate Troy TopCo LP — who made the $400 million purchase — be ordered to show why the transaction without prior authorization from the PRC did not violate the New Mexico Public Utilities Act, which states that PRC approval is required.
Leila Chapa is the social media and photo editor for the Daily Lobo. She can be reached at socialmedia@dailylobo.com or on X @lchapa06
Paloma Chapa is the multimedia editor for the Daily Lobo. She can be reached at multimedia@dailylobo.com or on X @paloma_chapa88
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