TECO Energy may acquire NM Gas Company

New Mexico Gas Company

ALBUQUERQUE (KRQE) – It looks like local gas utility rates will remain frozen until the end of 2017.

This is part of a settlement agreement reached with TECO Energy of Tampa, Fa., and the New Mexico Gas Company over TECO Energy’s pending acquisition of the Albuquerque-based company, according to a news release issued Wednesday.

The settlement also limits job reductions to 99 positions, the release states.

Now PRC will decide if the settlement is in the best interest for the public. If it’s approved, the sale is expected to close this fall, according to the release.

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