Emera and TECO Energy file settlement agreement in best interest of customers
Emera, Inc., and TECO Energy Inc. reached a settlement agreement on Monday regarding Emera’s proposed acquisition of TECO Energy and New Mexico Gas Co., which has gained the support of New Mexico communities and costumers.
“The parties have worked together to develop a settlement that provides significant benefits to New Mexico Gas Co. customers and to communities across New Mexico,” Emera President and CEO Chris Huskilson said. “We thank all the parties involved for their diligence over the last several months, and we look forward to working through the important remaining steps in the New Mexico regulatory process.”
Emera and TECO Energy filed the settlement agreement with the New Mexico Public Regulation Commission (NMPRC) on Monday. In the settlement, the organizations said that the agreement was in the best interest of New Mexico residents and encouraged the NMPRC to approve the stipulation.
The agreement included a transfer of TECO 2014 acquisition requirements to Emera, investment in natural gas infrastructure at the Mexico border, and an investment in resources to support economic growth and energy programs in the state.
The filing is still subject to NMPRC assessment and approval. An assessment hearing is scheduled to begin in late May.
