The revised draft doubles direct customer rate credits to $220 million, a central component of the acquisition deal. Beyond immediate rate relief, the companies pledged $40 million toward workforce development and scholarships, alongside $25 million for virtual power plant infrastructure. Another $15 million is earmarked for the Good Neighbor Fund to assist low-income households, quadrupling previous annual funding levels.

Blackstone Infrastructure has also committed to protecting the existing workforce by barring involuntary layoffs and maintaining current labor agreements. The proposal ensures that PNM and TXNM Energy will keep their headquarters in New Mexico, with local management teams retaining oversight of economic development funds. These commitments are designed to support a nearly $5 billion capital investment plan aimed at modernizing the state’s electric grid and meeting rising energy demands. The transaction remains subject to final regulatory approval by the New Mexico Public Regulation Commission.