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There has been relatively little publicity about the application pending before the Public Regulation Commission (PRC) for TECO Energy to acquire New Mexico Gas Company.
However, approving the application, which has been pending since July 9, 2013, will bring many benefits to the state.
TECO Energy, based in Tampa, Fla., is a large utility holding company with more than $7 billion in assets and a strong credit rating. It has been in the utility business for more than a century and has an exemplary record of providing excellent gas service and a reputation for safety practices that has earned it recognition for excellence by the American Gas Association. TECO has been a driving force in Florida in leading economic development efforts and intends to do the same in New Mexico, which could contribute significantly to our economic recovery.
TECO has been successful in helping businesses convert to natural gas vehicles that if its successes can be replicated here, would be a boon for New Mexico’s economy and environment. Natural gas vehicles are a new focus for the Farmington area, which is rich in this plentiful resource. This could be an incredible opportunity to further this industry while jumpstarting the Four Corners’ area economy.
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