On Tuesday, TECO Energy Inc. filed its application with the New Mexico Public Regulation Commission (PRC) to approve its acquisition of New Mexico Gas Co.
The application – more than 100 pages of testimony and exhibits – was filed jointly with New Mexico Gas Co. and its parent company, Continental Energy Systems LLC.
We expect a decision from the PRC by early 2014.
In May, TECO Energy entered into a definitive stock purchase agreement with Continental Energy Systems to acquire New Mexico Gas Co. for a purchase price of $950 million. The transaction is expected to close in the first quarter of 2014.