Ratepayer Protest at PNM Tomorrow at 12PM Against Merger, Illegal Stock Purchase, & Executive Bonuses

We are signal boosting a grassroots efforts led in part by some of the community members trained through We Got Us:PNM ratepayers are joining together to organize against the proposed Blackstone/PNM merger. On April 30th, we are inviting other outraged ratepayers to join us for a peaceful protest at PNM headquarters (414 Silver Avenue, Albuquerque, NM) to call attention to the $32 million golden parachutes that PNM executives will earn if the PRC sells us out to Blackstone. 

We are hosting the protest on April 30th to coincide with the hearing the NM Public Regulation Commission is holding to review Blackstone’s illegal purchase of PNM shares. The merger is already violating New Mexico law. Blackstone and PNM are already doing business illegally, which is not surprising given Blackstone’s history of housing, healthcare and labor law violations to boost profits at the expense of people. We are showing up to tell PNM their customers deserve better.

NM EXECUTIVES WILL MAKE $32 MILLION WHILE WE COULD SEE OUR RATES DOUBLE!

Blackstone plans to invest $3.4 billion in infrastructure, mostly for new data centers. Who will pay for all that expansion? We will, plus a guaranteed 9.45% interest on every dollar, because that’s how utility rates work. The cost for new transmission and power plants are socialized to all of us, even if they are being built to serve big corporate customers like OpenAI, Microsoft, Amazon and Google. Blackstone has already invested more than $130 billion in data center development. They want our power for AI, not for people.

We can’t afford the risks and costs and inequity this merger represents. 

Nearly half - 46% - of New Mexicans struggle to pay for basic necessities while Blackstone’s CEO, Stephen Schwarzman, is sitting on $48 billion in personal wealth. 

In exchange for control over our utility PNM customers will get $3.51 off our bill for four years. And no rate freeze, so the credit is bullshit. If the deal goes through, Blackstone can apply for a rate increase on day one!

THEY GET RICHER, WE GET SCREWED.

LEARN MORE AT HTTPS://PAA.GE/RATEPAYERREBELLION

Can't make it tomorrow? Get involved through our weekly We Got Us Meetings!

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