PNM
PE-OWNED
Acquired by Blackstone
What PE Will Likely Do
PNM's electricity reliability will decline due to deferred grid maintenance and reduced vegetation management around power lines, leading to more frequent outages
Customer service wait times will increase significantly as call centers are consolidated and staffing levels reduced
Rate increase requests to state regulators will become more aggressive and frequent, with Blackstone seeking to maximize utility returns through approved tariff hikes
Smart meter and grid modernization programs will be delayed or scaled back to reduce capital expenditures
Emergency response times for power outages will lengthen due to reduced field crew staffing
Expected Timeline
“0 to 6 months months”
Blackstone announces 'partnership' with PNM leadership, emphasizes commitment to 'reliability and customer service,' begins quiet assessment of 'operational efficiencies'
“6 to 12 months months”
First voluntary buyouts offered to senior (higher-paid) utility workers; customer service metrics begin declining; initial rate case filed seeking above-inflation increases
“12 to 24 months months”
Noticeable increase in outage frequency and duration; vegetation management cycles extended (trees near lines trimmed less often); smart meter rollout slows; customer complaints to state PUC rise sharply
“24 to 48 months months”
Major rate case battles with significant requested increases; workforce reduced through attrition and layoffs; grid equipment failures become more common; bond rating agencies flag increased leverage
What You Can Do
Actions
Document all outage incidents with dates, duration, and causes—this data will be critical in future PUC rate case proceedings
Consider investing in backup power (generators, battery storage) as grid reliability is likely to degrade over 2-4 year horizon
Participate actively in all PNM rate case proceedings; Blackstone will seek maximum allowable returns—public opposition can constrain approved increases
Monitor vegetation management in your neighborhood; photograph overgrown trees near power lines and report to PUC if trimming cycles lengthen
Review electricity bills carefully for new fees, riders, or billing errors; PE cost-cutting often degrades billing system accuracy
Alternatives
Look for family-owned or employee-owned businesses