AVANGRID: New Mexico Supreme Court Denies Motion to Dismiss and Remand Merger Appeal, Schedules Oral Argument
Summary
ORANGE, Conn.--(BUSINESS WIRE)--Today Avangrid, Inc. (NYSE: AGR) announced that the New Mexico Supreme Court issued a decision today to deny a joint motion filed by PNM Resources (NYSE: PNM), AVANGRID and the New Mexico Public Regulation Commission (NMPRC) to dismiss the appeal of NMPRC’s denial of the proposed Avangrid - PNM merger and remand the case back to the NMPRC. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: networks and renewables. Through its networks business, AVANGRID owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. AVANGRID employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.