Residents speak out against private equity gas takeover

As a controversial proposed utility takeover heads into a hearing before state regulators, some advocates and community members are speaking out against the deal.

While several business groups expressed approval for the private equity takeover of the state's largest natural gas utility, members of the public at a hearing last week expressed concerns over the implications of the proposed deal.

Community members shared worries about potential increases in utility rates and poorer service under private equity ownership as well as concerns over the proposed buyer's lack of experience running natural gas utilities and violations in other states.

Louisiana-based private equity firm Bernhard Capital Partners has requested approval from state regulators to acquire New Mexico Gas Co. for $1.25 b