News

El Paso Electric Files to Reduce Fuel Factor in Texas

October 30, 2018

PRESS RELEASE

October 30, 2018

 

El Paso Electric Files to Reduce Fuel Factor in Texas

Reduction could decrease residential bills by $0.50 per month

Texas – On October 25, 2018, the Public Utility Commission of Texas (PUCT) approved El Paso Electric’s (EPE) filing, on an interim basis, to reduce its existing Texas fuel factor by approximately seven percent. 

The approved fuel factor reduction for a typical residential customer using 475 kilowatt hours (kWh) per month during winter will see a decrease of approximately $0.50 on their monthly electric bill. Customers will see this savings as early as November 1, 2018.

This marks the second filing by EPE to reduce the fuel factor this year. The fuel factor was last revised in April 2018, reducing customer bills by $4.89.

About the Texas Fuel Factor

The fuel factor is designed to recover the cost of the fuel used to generate electricity which EPE incurs in supplying electric power to customers. EPE adjusts fuel factors periodically to more accurately reflect the current and forecasted cost of fuel.

EPE is permitted by its regulators to only recover its actual fuel expenses used to generate electricity and EPE does not earn a profit on these costs.

About El Paso Electric

El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 421,000 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico. El Paso Electric's common stock trades on the New York Stock Exchange under the symbol EE.

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Media Contact

Javier C. Camacho | El Paso Electric Company

Public Relations Specialist

T: (915) 543-4031 | C: (915) 487-4753

Javier.camacho@epelectric.com