New Mexico utility executives tout merger to state lawmakers

By SUSAN MONTOYA BRYAN
Associated Press

ALBUQUERQUE, N.M. (AP) — New Mexico utility officials are touting millions of dollars in economic development benefits and customer savings if state regulators approve a multibillion-dollar merger with a subsidiary of global energy giant Iberdrola. Two executives with Public Service Co. of New Mexico testified Tuesday before a panel of legislators. They said the deal would result in 150 new jobs and a better credit rating for financing $4 billion in future investments. A hearing examiner has recommended that the merger as proposed be rejected by the Public Regulation Commission. A final decision is pending. Several lawmakers raised questions about reliability and customer service.