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New Mexico regulators unanimously reject Avangrid-PNM merger, but observers see a second chance in 2023 - Climate Impact Capital New Mexico regulators unanimously reject Avangrid-PNM merger, but observers see a second chance in 2023 - Climate Impact Capital

Observers say it is possible the deal can be salvaged, but for now concerns over reliability and the development of renewable resources have scuttled the proposed $8 billion merger.