Villarejo and Iberdrola case extension arrives in the US on key dates for the merger with PNM

On the other side of the Atlantic, in the deep state of New Mexico, a real fight is raging over Avangrid, Iberdrola’s North American subsidiary, breaking into this border region with Mexico. Avangrid attorneys continue to defend, along with PNM’s legal teams, the merger of the two companies. But around this defense are numerous groups, led by lawyers, with diverse interests and goals. who are struggling to handle what may be the largest Iberdrola operation in the United States And the second company in the world.

When the news broke, it was the first reaction of the majority of the citizens delusion. Iberdrola is a company known for its commitment to green energy. However, PNM is a company that still relies heavily on fossil fuels today. Their union can help shift the energy company towards the goals set for environmental transformation.

However, as this medium was able to find out, the Attorney General of New Mexico, Raul Torrez, was concerned about the information known a few days ago that the National Court would extend the investigation into the alleged appointment of the commissioner until July. Manuel Villarejo of the energy company to spy on its competitors. News that appears days – or weeks – after the final decision of the Supreme Court.

“The Attorney General (who was elected at the beginning of the year) is a very important player. Represents the law in the state of New Mexico. He is worried about expanding the case. This is important because it has the power to change the opinion of the Supreme Court, ”confirms one of the organizations involved in the process. However, there are many organizations of great importance that support the merger between Avangrid and PNM.

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According to the same sources, this new information regarding this expansion of the case we will use Those groups that refuse to merge to the five justices who make up the Supreme Court of New Mexico as an argument to try to stop the merger process. Justice must in the imminent term render its verdict on whether to give the green light to the operation between the Spanish energy company and the US public company. A decision will come after reading the arguments of all parties involved.

The main actors currently involved in the future of the great Operation Iberdrola in the United States are the Supreme Court (with its five justices in charge) and Up to 23 groups, ranging from organizations that advocate for the consumer or the environment, to cities (of which the largest weight is Albuquerque), through the aforementioned Attorney General. Each of them represents, each one, a large handful of thousands of people. New Mexico has a population of just over two million.

At the end of 2020, PNM And avangrid They asked the New Mexico General Regulatory Commission (PRC) to approve their merger as Iberdrola subsidiary acquired the operator from the state of New Mexico. However, the then five members of the People’s Republic of China rejected the request. To do so, they listed more than a dozen arguments for bringing down the operation. Avangrid and PNM did not back down and appealed the decision, which is now in the hands of the New Mexico Supreme Court. Meanwhile, it was created new commission It consists of three members instead of five, which, according to commercial sources, tend to carry out the merger.

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Avangrid’s presence in the United States extends to other states in the country. Right now, aside from the exact situation in New Mexico, there is another state — Massachusetts — where the Spanish subsidiary is receiving some criticism from that state’s Senate. Thus, the most authoritative voice asked a few weeks ago to write it In the event that Iberdrola does not comply with the contract signed for its offshore wind plan (which requested this in addition to requesting renegotiation of new cost overruns for raw materials) are excluded from any contract in the main state of New England.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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