Energy companies seek to sweeten merger deal in New Mexico

ALBUQUERQUE, N.M. (AP) — New Mexico’s largest electric provider and global energy giant Iberdrola are proposing more concessions as they seek regulatory approval for a multibillion-dollar merger. The parent company of Public Service Co. of New Mexico and an Iberdrola subsidiary filed a new proposal with utility regulators Friday. It includes $10 million more in economic development benefits and financial protections for customers. The proposal also calls for PNM to delay its next rate case by six months to December 2022. The concessions aim to address the concerns of a hearing examiner who recommended that the New Mexico Public Regulation Commission reject the merger.