AVANGRID: New Mexico Supreme Court Denies Motion to Dismiss and Remand Merger Appeal, Schedules Oral Argument

May 15, 2023 at 16:01 PM EDT

Today Avangrid, Inc. (NYSE: AGR) announced that the New Mexico Supreme Court issued a decision today to deny a joint motion filed by PNM Resources (NYSE: PNM), AVANGRID and the New Mexico Public Regulation Commission (NMPRC) to dismiss the appeal of NMPRC’s denial of the proposed Avangrid - PNM merger and remand the case back to the NMPRC. The court also denied the other motions by intervening parties. The Court has scheduled oral arguments on the appeal for September 12, 2023.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: networks and renewables. Through its networks business, AVANGRID owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, AVANGRID owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, AVANGRID ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.