Avangrid’s Merger Agreement with PNM Resources Falls Through Amid Regulatory Challenges

The proposed merger between Avangrid, the US subsidiary of Iberdrola, and PNM Resources has been officially terminated, following challenges in obtaining regulatory approval from the New Mexico Public Regulation Commission. While Avangrid and PNM had secured all required regulatory approvals for the merger's closure by the end of 2022, the crucial approval from the New