PNM Resources, Avangrid Get Nuclear Regulatory Commission Approval For Merger - Quick Facts

(RTTNews) - Energy holding company PNM Resources, Inc. (PNM) and Avangrid (AGR) announced Wednesday that they have received approval from the sixth regulatory entity, the Nuclear Regulatory Commission (NRC), for their proposed merger.

With this approval, the only remaining approval is from the New Mexico Public Regulation Commission (NMPRC). PNM, Avangrid and several parties are hopeful the NMPRC will commence public hearings on the proposed merger stipulation in June.

On October 21, 2020, Spanish utility Iberdrola S.A.(IBDSF.PK) announced that its U.S. energy operations unit Avangrid agreed to buy PNM Resources in a deal with an enterprise value of approximately $8.3 billion.