On October 21, 2020, Avangrid, Inc. (Avangrid), and PNM Resources, Inc. announced that their respective boards approved the merger of PNM Resources, Inc. into Avangrid. PNM Resources, Inc. and its respective public utility affiliates that include Public Service Company of New Mexico and Texas-New Mexico Power Company may employ or retain marketing function employees. Avangrid is the indirect parent company of several regulated electric public utility companies including: Central Maine Power Company, Maine Electric Power Company, Inc., New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, and The United Illuminating Company. Avangrid also holds approximately a 19% interest in New York Transco LLC, through its affiliate, Avangrid New York Transco LLC. Central Maine Power Company, Maine Electric Power Company, Inc., and New York Transco LLC do not employ or retain marketing function employees.
The transmission provider must post information concerning potential merger partners as affiliates that may employ or retain marketing function employees.
Timing of Posting
Mergers must be posted within seven days after the potential merger is announced.
Code of Federal Regulation
18 CFR 358.7 (e)(3)