ALBUQUERQUE, N.M. – New Mexico Gas Company, Bernhard Capital Partners and Emera announced May 20 that hearing examiners with the New Mexico Public Regulation Commission have recommended approval of the proposed sale of New Mexico Gas Company to Bernhard.
In a joint statement, the companies called the recommendation “a key step” in the regulatory process. They said the transaction would bring about $87 million in benefits to New Mexico Gas customers and communities while keeping a locally focused utility in the state.
The sale is not final. A final decision must still come from the full Public Regulation Commission.
The companies said customers would continue receiving service from the same team of employees and said they do not expect service to be affected by the ownership change once all approvals are in place.