THE PUBLIC REGULATION COMMISSION IS HOLDING HEARINGS THIS WEEK ON THE PROPOSED SALE OF NEW MEXICO GAS COMPANY. A FLORIDA COMPANY … TECO ENERGY … WANTS TO BUY THE GAS COMPANY, BUT THE SALE IS OPPOSED BY THE PRC STAFF, AS WELL AS THE STATE ATTORNEY GENERAL'S OFFICE AND NEW MEXICO INDUSTRIAL ENERGY CONSUMERS.
TECO WANTS TO BUY THE COMPANY IN A STOCK PURCHASE DEAL VALUED AT 950 MILLION DOLLARS THAT WOULD ALSO TAKE OVER NEW MEXICO GAS COMPANY'S DEBT. TH HEARINGS ARE EXPECTED TO LAST A COUPLE OF WEEKS.
