On March 11th Hearing Examiners at the New Mexico Public Regulation Commission (PRC) granted a motion requiring the Joint Applicants in PRC Case No. 25-00060-UT - PNM, TXNM Energy, and Blackstone’s Troy Parentco - to show cause why a $400 million Financing Transaction made in connection to the proposed merger without PRC approval was not unlawful under New Mexico law. That ruling followed a motion filed by Prosperity Works and supported by multiple intervenors, including New

This week we learned about a company looking to restart exploration for uranium mining near Canjilon, a project that could poison the entire Chama watershed, we scrambled to participate in the ludicrous seven day public comment period on the Trump administration's bid to re-open fossil fuel extraction near Chaco Canyon, and saw there was a notice that federal agencies are reversing efforts to ban mining in the Upper Pecos, potentially opening up nearly 165,000 acres for miner

The Hearing Examiners have agreed with intervenors that Blackstone's acquisition of $400 million PNM shares without PRC permission warrants its own hearing, which has been set to begin on April 30th. Most importantly, the Hearing Examiners have vacated the prior hearing schedule because they agreed with intervenors that the acquisition cannot move forward until an investigative hearing concludes and a determination is made as to whether Blackstone and PNM violated the law wit

Thank you to all those who joined our conversation with Karen Hao about the Empire of AI and how Blackstone's ambition - to use New Mexico land, water, utility customers and energy resources to cash in on the artificial intelligence gold rush - could impact our communities and environment. If there is one thing we took away from Karen's deep knowledge and important insights, it is that the apocalyptic vision of these Artificial Intelligence zealots is not inevitable. Despite

Santa Fe, NM (March 11, 2026) — In a major development in the proposed takeover of Public Service Company of New Mexico (PNM), Hearing Examiners at the New Mexico Public Regulation Commission (PRC) have granted a motion requiring the Joint Applicants - PNM, TXNM Energy, and Blackstone’s Troy ParentCo - to show cause why a $400 million stock transaction was not unlawful under New Mexico law. The ruling comes after a motion filed by Prosperity Works and supported by multiple i

In Tehran today people are breathing a toxic soup of oil and dangerous particulates. The sky is black, death rains down and there is no water. In the words of Mehnaz, quoted in The Guardian: “The Rey depot, you won’t believe, was still on fire and it’s insane because in the night it looked like day and in the day, it was so dark, it looked like a new moon night. So, so dark, just like our futures.” Aramco is warning of “catastrophic consequences” for the world’s economy if t

New Energy Economy (NEE) and the New Mexico Consumer Protection Alliance today filed a Reply in Support of the Motion to Show Cause filed on February 6, 2026 by Prosperity Works in Case No. 25-00060-UT before the New Mexico Public Regulation Commission (PRC), arguing that the proposed $11 billion Blackstone acquisition of TXNM Energy (parent of PNM) is built upon an unlawful stock transaction that violates New Mexico law. Replies were also filed by the NMDOJ and Prosperity Wo

We started the legislative session with a reminder that WE GOT US. It is WE, THE PEOPLE that will create the change we want to see. Nowhere was that more apparent than the juxtaposition between the hundreds of people showing up for six hours to speak against Blackstone at the PRC on Tuesday with the utter failure of the leadership in the New Mexico House and Senate to protect the people against the predicted and already extremely apparent collapse of our ecosystem as a conseq

FOR IMMEDIATE RELEASE – New Energy Economy, joined by the NM Consumer Protection Alliance, today filed a formal Response in support of a Motion to Show Cause in Case No. 25-00060-UT before the New Mexico Public Regulation Commission, arguing that the proposed merger between Public Service Company of New Mexico (PNM), TXNM Energy, Inc., and Troy ParentCo LLC must be denied because it violates New Mexico law. Our filing followed a Notice of Joinder filed earlier today from

On Friday Prosperity Works filed a Motion for Rule to Show Cause asking why Blackstone, through its affiliate Troy TopCo LP, unlawfully acquired a significant ownership stake in TXNM Energy, PNM’s parent company, without the prior approval required under New Mexico law—raising serious concerns about the integrity of the proposed takeover of New Mexico’s largest electric utility. Three facts are now clear: 1. Blackstone purchased PNM stock as part of the merger—without requir

Last night more than 400 New Mexicans showed up at the PRC public comment hearing about the Blackstone buyout of PNM and spoke loud and clear: Blackstone is not wanted in New Mexico. More than 300 people came in person and signed up, but only about 70 got a chance to speak! Well over 100 were waiting online on zoom and not one of them got the chance. People were lined up outside in the hallway because the room could not contain everyone. People listened from the parking lot.

As we close out this milestone year—our 20th anniversary—we are reflecting on our mission, what we have accomplished, what remains ahead, and the extraordinary moment we are living through. The climate crisis is accelerating, and the fossil fuel industry is responding not with restraint, but with unprecedented expansion - doubling down on oil, gas, a suite of dangerous “advanced energy” schemes that threaten our water, health, and democratic rights, and threats of war in Vene

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...