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Pile of cash

New Mexico Gas Company latest utility facing private equity takeover

A private equity firm whose limited experience owning utilities is checkered with compliance problems and cost overruns is attempting to buy the New Mexico Gas Company (NMGC), raising concerns from regulators, environmental advocates and customers in that state about the company, Bernhard Capital Partners (BCP).  The proposed bid by BCP to purchase the gas utility...
Pile of cash

PUCO stops FirstEnergy from making Ohio customers pay $108 million for a corporate accounting foul-up flagged by regulatory audits 

November 20, 2024 update: FirstEnergy’s Ohio utilities will not be allowed to recover $108 million in misclassified corporate overhead costs flagged repeatedly in regulatory audits through the new rates approved by the Public Utilities Commission of Ohio in an order yesterday.  A spokesperson for the PUCO confirmed that the order affirmed an auditor’s recommendation to...

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