BX · News · 20260804N

TXNM Blackstone Deal Dispute

Blackstone Inc. · 2026-08-04 · Importance 71 · Surprise 60

New Mexico regulators voided a proposed $400 million stock sale by TXNM Energy to Blackstone. Prosperity Works urged TXNM to provide customers with $240 million in rate credits, alleging that the company improperly waived a $350 million termination fee owed by Blackstone. The dispute creates regulatory, litigation, and reputational exposure around the abandoned transaction and the treatment of customer ratepayer benefits.

Key facts

• Prosperity Works contends TXNM waived a $350 million termination fee from Blackstone that should have been pursued and largely returned to ratepayers. source