NMGC customer rates as part of the transaction, will be frozen until the end of 2017, and customers will benefit from at least $11 million in anticipated savings early through a credit on their bills.
TECO has decided to maintain or raise NMGC's present level of community involvement and support, and will possess NMGC for at least 10 years whereas NMGC retains its name and headquarters Albuquerque.
NMGC customers will benefit from anticipated savings early through a credit on their bills.
NMGC will retain its name, and its headquarters will remain in Albuquerque.
The gas company's current owner, TECO Energy, NMGC
and Continental Holdings, have reached deal with the New Mexico Industrial Energy Consumers, which indicates large customers, and the New Mexico Attorney General's Office.
Faced with limited pipe supply due to Hurricane Katrina in 2005 and the challenge of delivering gas safely and cost-effectively under an extremely wide range of operating conditions, engineers at NMGC were intrigued by industry buzz indicating bimodal high density polyethylene (HDPE) resin's excellent resistance to slow crack growth (SCG) and rapid crack propagation (RCP), critical criteria for any gas pipe material.
In late 2005, NMGC initiated an internal evaluation of bimodal PE 4710 pipe.
Fittings were tested with all PE 3408 polyethylene pipe NMGC had installed over the years.