Officials from Public Service Company of New Mexico and Avangrid say a pending merger would help the state’s largest electric utility reach renewable energy targets at a faster pace. The two companies hosted a press conference on Thursday following the New Mexico Public Regulation Commission’s discussion the previous day regarding a hearing examiner’s recommendation that the commission deny the merger.
Three of the five commissioners stated during the Wednesday meeting that they oppose the merger and believe that the potential harms to the customers outweigh the benefits. Commission Chairman Stephen Fischmann, who was the first commissioner to express opposition to the merger, said that the main reason to reject it is that Avangrid has an “absolutely horrible record of running U.S. utilities.”
Commissioners Cynthia Hall and Theresa Becenti-Aguilar joined Fischmann in voicing opposition, which is an unusual move for the PRC, as the merger was not scheduled for a vote and the commission must still hear the exceptions in the case presented.
Related: Hearing examiner says potential harms outweigh benefits in PNM/Avangrid merger
During the Thursday press conference, Attorney General Hector Balderas criticized the commissioners for voicing their opposition prior to the official vote and prior to hearing all the evidence. “Based on the commissioners’ statements yesterday, I am a little concerned that they seem to have implied as jurors that they’re leaning one way or another in terms of making their decision,” he said. During Thursday’s press conference, Balderas also spoke about the importance of transitioning away from fossil fuels and said that the merger could help New Mexico achieve the goals set out in the 2019 Energy Transition Act.