Key Takeaways
- • A recent survey commissioned by a coalition of advocacy groups and announced by Public Power New Mexico found 82% of respondents expect Blackstone's proposed takeover of Public Service Company of New Mexico (PNM) to have a negative impact on customers' electricity bills.
- • Of the negative responses, 58% were classified as "very negative," according to the survey results reported by the Santa Fe New Mexican.
- • Only 10% of respondents believed the acquisition would have a positive effect on electricity bills.
- • The findings signal significant public opposition to the pending private equity acquisition of the New Mexico utility, a factor regulators weighing the deal may face.
Summary
A recent survey shows deep public skepticism toward Blackstone's pending takeover of Public Service Company of New Mexico (PNM), with the large majority of respondents believing the deal would harm their household finances. The survey was commissioned by a coalition of advocacy groups and announced by Public Power New Mexico, according to the Santa Fe New Mexican.
According to the survey results, 82% of respondents said the Blackstone takeover would have either a "somewhat negative" or "very negative" impact on PNM customers' electricity bills. Of those responses, 58% fell into the "very negative" category. By contrast, only 10% of respondents believed the acquisition would have a positive impact on electricity bills.
The results highlight the political and regulatory sensitivity surrounding the transaction. Utility acquisitions by private equity firms typically require approval from state regulators, and rate impacts are a central concern in such proceedings. The survey's findings reflect the advocacy coalition's position on the deal, and the article does not report a formal response from Blackstone or PNM in the primary source material.
According to the survey results, 82% of respondents said the Blackstone takeover would have either a "somewhat negative" or "very negative" impact on PNM customers' electricity bills. Of those responses, 58% fell into the "very negative" category. By contrast, only 10% of respondents believed the acquisition would have a positive impact on electricity bills.
The results highlight the political and regulatory sensitivity surrounding the transaction. Utility acquisitions by private equity firms typically require approval from state regulators, and rate impacts are a central concern in such proceedings. The survey's findings reflect the advocacy coalition's position on the deal, and the article does not report a formal response from Blackstone or PNM in the primary source material.
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