PNM Resources and Avangrid file joint motion to dismiss merger appeal

PNM Resources and Avangrid have filed a joint motion, together with the New Mexico Public Regulation Commission – NMPRC -, in the Joint Applicants’ appeal pending at the New Mexico Supreme Court to dismiss the appeal and remand the case back to the NMPRC for rehearing and reconsideration. Under the filed motion, the NMPRC will conduct the rehearing and reconsideration in accordance with its rules of procedure and endeavor to reach a decision and issue a final order. The NMPRC acknowledges that the Joint Applicants are seeking a resolution by no later than April 12. PNM Resources and Avangrid previously entered into an amendment of their merger agreement extending the end date to April 20. The agreement can be extended 90 days by agreement from both companies. The motion is subject to the Court’s determination through an order and mandate.