Retired Engineer Warns Against Selling New Mexico's PNM Utility to Blackstone

Concerns raised over private equity ownership of critical public infrastructure and potential for higher costs, reduced service quality for customers.

Mar. 29, 2026 at 7:24am

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A minimalist, photorealistic studio still life featuring a single, polished metal power line pylon or electrical transformer floating on a clean, monochromatic background, conceptually representing the abstract debate over public versus private ownership of essential utilities.A striking visual metaphor for the debate over the future of New Mexico's electric utility and the risks of privatizing critical public infrastructure.Peralta Today

A retired computer engineer from Peralta, New Mexico is urging the state's Public Regulation Commission to reject the proposed sale of Public Service Company of New Mexico (PNM) to private equity firm Blackstone Infrastructure. The writer argues that private ownership of essential utilities like electricity is a 'terrible model' that prioritizes profits over customer needs, and cites examples of private companies raising prices on life-saving products like EpiPens and insulin. The opinion piece warns that Blackstone's track record with similar acquisitions has been 'abysmal' and that the sale would be a 'travesty' that makes a bad situation much worse.

Why it matters

The potential sale of PNM, New Mexico's largest electric utility, to an out-of-state private equity firm raises concerns about the future reliability, affordability, and quality of service for the state's electricity customers. Private ownership of critical public infrastructure like the power grid can lead to higher rates, reduced investment, and a focus on profits over the public good.

The details

The opinion piece argues that private ownership of monopolistic entities like electric utilities, whose only goal is profit, is a flawed model. The writer cites examples of private companies raising prices on life-saving products like EpiPens and insulin to maximize profits, even when it puts lives at risk. The piece warns that Blackstone's track record with similar acquisitions has been 'abysmal' and that approving the sale of PNM to the private equity firm would be a 'travesty' that makes a bad situation much worse. The writer suggests that PNM should instead be considered for public ownership, which would provide more transparency and focus on quality of service over profits.

  • The Public Regulation Commission hosted a public hearing on February 5, 2026 regarding the pending sale of PNM to Blackstone Infrastructure.

The players

Roberto E. Rosales

The author of the opinion piece and a retired computer engineer who lives in Peralta, New Mexico.

Public Regulation Commission

The state regulatory agency that is considering the proposed sale of PNM to Blackstone Infrastructure.

Blackstone Infrastructure

A private equity firm that is seeking to acquire PNM, New Mexico's largest electric utility.

Public Service Company of New Mexico (PNM)

New Mexico's largest electric utility, which is the target of the proposed acquisition by Blackstone Infrastructure.

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What they’re saying

“Private ownership of inherently monopolistic entities whose only goal is profit is a terrible model. A public necessity (like electricity) should not be run by a private company that cares only about squeezing every last penny out of customers. Citizens' needs are simply not relevant no matter what company officials claim.”

— Roberto E. Rosales, Retired Computer Engineer

What’s next

The Public Regulation Commission is expected to make a decision on whether to approve the sale of PNM to Blackstone Infrastructure in the coming months.

The takeaway

This case highlights the risks of privatizing critical public infrastructure like the electric grid, where profit motives can lead to higher costs, reduced service quality, and a disregard for the needs of customers and the broader community. Maintaining public ownership or control over essential utilities may be a better model to ensure affordable, reliable, and equitable access to these vital services.