Bernhard Capital Partners to Purchase New Mexico Gas Company
In October 2024, Louisiana-based Bernhard Capital Partners, Emera Inc. and New Mexico Gas Company applied to the New Mexico Public Regulation Commission for permission to have BCP purchase NMGC.
What does the proposed sale mean for our customers? Business as usual. Our team, as always, is focused on providing safe, reliable natural gas service to 549,000 New Mexico homes and businesses. That’s why we’re here.
Bernhard Capital has committed to:
- Create 50 to 60 new jobs in New Mexico, replacing support services now provided to NMGC by out-of-state employees at other Emera companies. An independent economic analysis has determined that these new jobs would result in about $40 million of new annual economic activity in New Mexico.
- Enhance current investments in economic development and community organizations.
- Maintain New Mexico Gas Company’s current office locations across the state, local leadership and all employees who are with the company at the time of closing.
- Operate New Mexico Gas Company as a stand-alone business, separate from BCP’s other natural gas utilities and investments.
- Keep the name New Mexico Gas Company.
The New Mexico Public Regulation Commission's public hearing regarding the application is scheduled to begin on June 23, 2024.
The NMPRC's Notice to Customers regarding the application and approval process can be found here.
The October 28 news release about the application to the NMPRC can be found here. The independent economic study regarding the benefits of new jobs that will be created as a result of the sale can be found here.
The application to the NMPRC can be found here.
