Bernhard Capital Partners to Purchase New Mexico Gas Company
On October 28, 2024, Louisiana-based Bernhard Capital Partners, Emera and New Mexico Gas Company applied to the New Mexico Public Regulation Commission to purchase NMGC.
What will this 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 plans to:
- 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.
- Create about 61 new jobs in New Mexico, replacing back office services that are now provided to New Mexico Gas by out-of-state employees at other Emera companies.
- Operate New Mexico Gas Company as a stand-alone business, separate from Bernhard Capital’s other natural gas utilities and investments.
- Keep the name New Mexico Gas Company.
The process for approval by the Public Regulation Commission will likely take about a year; the PRC will determine the timeline.
The August 5 news release about the sale can be found here.
The October 28 news release about the approval application to the NMPRC can be found here.
The application to the NMPRC can be found here.
