Private equity giant Blackstone is trying to buy New Mexico's largest utility provider.

Feb 17, 2026

Private equity giant Blackstone is trying to buy New Mexico’s largest utility provider.

The Public Service Company of New Mexico serves over 500,000 people.

Blackstone would make billions and execs would make millions, while the 40% of PNM customers in poverty get screwed.

Producer: Dan Lieberman
Editor: Kenneth Kerr
Motion Designer: Brian Cariaga
Videographers: Michael Lopez, Chris Sessions
Video Production Manager: Isabel Atalaya
Video Production Coordinator: Jodi Clemens
Research & Writing Fellow Julian Andreone