Yesterday we filed our Brief in Chief in the Bernhard Capital Partners buyout case, delivering our final legal arguments recommending against the deal, and laying out the requirements the PRC should impose should they decide to do so. But today the public showed up to make their own arguments, and they did not disappoint! The people called out the dangers of private equity, the impact of likely rate increases on seniors and the working poor, and the absurdity of allowing th

A friend just shared with us this letter authored on December 4th by Senators Bernie Sanders, Elizabeth Warren and Richard Blumenthal questioning Blackstone CEO Stephen Schwarzman about his intentions in buying PNM. The letter states that "private equity firms appear to be taking advantage of utilities’ regulated-monopoly status to rake in excess profits," and points out that the company itself has publicly announced that it is investing at scale to position itself as “the

Yesterday we filed an  Interlocutory Appeal directly to the PRC after the Hearing Examiners in the Bernhard Capital Partners case failed to respond to our Emergency Motion seeking to remedy their defective rulings during the hearing in November and the PRC has already issued an order asking other parties to respond. This interlocutory appeal matters because the Hearing Examiners’ evidentiary rulings undermine the very foundation of the Commission’s constitutional and statuto

Headquartered in New York, Blackstone was founded by Peter Peterson and CEO Stephen Schwarzman, an ally and lifelong friend of Trump who served as chairman of Trump’s Strategic and Policy Forum. Mr. Schwarzman is worth more than $44 billion, ranking No. 31 on Forbes list of the world’s wealthiest people. Blackstone has applied to buy PNM - the electricity provider for more than 65% of New Mexican families and small businesses. To sweeten the deal, Blackstone has offered PNM’s

Last week, after requesting an extension, Bernhard Capital Partners (BCP), the private equity firm trying to take over NM Gas Company,...

New Energy Economy (NEE) announced Monday that it will intervene in the New Mexico Public Regulation Commission’s (PRC) review of...

Some have written to us with concerns about the Blackstone proposal to acquire PNM and whether Avangrid would have been preferable, but...

Last week  Blackstone Infrastructure announced its plan to acquire TXNM, PNM's parent company for $11.5 billion . Blackstone (not to be...