The US Federal Energy Regulatory Commission (FERC) approved Blackstone Infrastructure’s acquisition of TXNM Energy, a New Mexico-based energy holding company supplying electricity to over 800,000 homes in Texas and New Mexico. The FERC found the transaction aligns with the public interest, with no compromise to regulation or customer rates.

The acquisition also received federal regulatory clearance from the Federal Communications Commission, with no objections under the Hart-Scott-Rodino Antitrust Improvements Act. The Public Utility Commission of Texas (PUCT) approved a settlement supporting the acquisition, which includes $45m in rate credits for customers and enhanced governance standards.

Pending federal approval from the Nuclear Regulatory Commission and state consent from the New Mexico Public Regulation Commission, TXNM Energy’s acquisition by Blackstone Infrastructure values at approximately $11.5bn. Subsidiaries PNM and TNMP plan to maintain regulated service provision and focus on clean energy objectives in New Mexico and Texas.

Read more at Yahoo Finance: FERC approves Blackstone’s acquisition of TXNM Energy