LOCAL COLUMN
OPINION: Why local electricians support Blackstone's acquisition of TXNM Energy
For decades, the International Brotherhood of Electrical Workers Local 611 (IBEW 611) members have powered New Mexico in every storm, heat wave, and through every major transition in our state’s energy landscape. We know what it takes to keep the lights on. We also know what it looks like to work with a company that respects its workforce and invests in the future. Historically, IBEW and Public Service Company of New Mexico have had a strong, mutually beneficial working relationship. Together, we’ve navigated grid modernization, wildfire risks, renewable integration and major storms. Throughout this time, PNM has honored our labor agreements, valued union craftsmanship and kept decision-making rooted in New Mexico.
History matters. We are grateful for the relationships we’ve built with PNM, and ensuring this dynamic continues well into the future is paramount. With Blackstone Infrastructure’s commitment to PNM maintaining local control and direct accountability to IBEW 611 workers and our customers, we are proud to stand in support of their acquisition of TXNM Energy, the parent company of PNM. Blackstone’s proposed agreement also commits to honoring all union labor agreements. In an era when out-of-state corporate takeovers often mean hollowed-out workforces and outsourced expertise, this deal safeguards the local, unionized workforce that knows New Mexico best.
New Mexico’s energy grid needs massive, long-term investment. Blackstone brings exactly that: patient, long-term capital designed to strengthen New Mexico’s energy infrastructure. PNM is already working toward a carbon-free future, integrating resources that supply more than two-thirds of its electricity from carbon-free energy. But achieving full reliability, modernization and compliance with our state's Energy Transition Act requires resources, and this acquisition directly supports our ability to meet these resource needs.
For IBEW 611 members, this acquisition means steady work, better tools, safer equipment and the certainty that long-planned projects won’t be delayed due to inadequate funding. This stability is critical for our workforce to thrive and communities to flourish.
Supporting this acquisition means recognizing strong benefits to our workers and New Mexico, while insisting on continued public oversight and accountability. After years of uncertainty around PNM’s ownership, this partnership provides something workers and residents desperately need: stability, investment and a clear path toward a resilient energy future.
We will continue tracking the regulatory proceedings closely, and supporting this acquisition does not mean a blank check for anyone. However, in the agreements outlined in the acquisition proposal, Blackstone is prepared to commit the resources to help PNM modernize the grid, responsibly integrate renewable energy and maintain reliability, all while keeping PNM firmly rooted in New Mexico and preserving its long-standing, productive relationship with IBEW.
IBEW Local 611 stands in support of the Blackstone–PNM acquisition. This deal will strengthen union jobs, keep decision-making local, protect customers, invest in communities and put New Mexico at the forefront of America’s clean energy future.
We cannot afford to let politics or fear derail an opportunity this strong. With eyes wide open and regulators holding all parties to their commitments, this partnership gives our state the tools we need to build a more resilient, equitable, and union-powered future.
Fonze Martinez Jr. is the business manager and financial secretary for International Brotherhood of Electrical Workers Local 611.