The Public Utility Commission of Texas (PUCT) has approved the plan for Blackstone Infrastructure to acquire TXNM Energy, the parent company of Texas‑New Mexico Power (TNMP).

This approval confirms that the transaction is in the public interest and includes several commitments designed to benefit customers and communities across Texas.

What This Means for Customers
As part of the agreement, customers will receive:
- $45 million in rate credits
- Stronger financial protections to ensure reliable service
- Local oversight and governance
- Protections for employees and local operations
- A commitment to fund TNMP’s 5‑year investment plan
- Support for Texas communities

Who Reached the Agreement
The settlement was reached with:
- PUCT Staff  
- Texas Industrial Energy Consumers  
- Office of Public Utility Counsel  
- Cities served by TNMP  
- Walmart Inc.  
- Texas Energy Association for Marketers  

Regulatory Approvals
The acquisition has already received:
- Federal Communications Commission (FCC) approval
- Expiration of the Hart‑Scott‑Rodino antitrust waiting period
- Shareholder approval in August 2025

Additional approvals are still required from:
- Federal Energy Regulatory Commission (FERC)
- Nuclear Regulatory Commission
- New Mexico Public Regulation Commission, related to PNM, TXNM Energy’s New Mexico utility

More information and documents related to the Texas settlement are available at:  www.txnmenergy.com/investors/rates-and-filings/tnmp-puct-filings.aspx

About TXNM Energy
TXNM Energy (NYSE: TXNM), based in Albuquerque, delivers energy to more than 800,000 homes and businesses in Texas and New Mexico through its utilities TNMP and PNM. Learn more at www.TXNMEnergy.com.