Administrative Law Judges Issue Order to Abate Hearing in El Paso Electric Company’s Texas Rate Case
August 24 2017 - 1:19PM
Business Wire
On August 24, 2017, the Administrative Law Judges (ALJs) in El
Paso Electric Company’s (EPE) (NYSE: EE) pending case to change its
Texas retail electric rates in Public Utility Commission of Texas
(PUCT) Docket No. 46831 issued an order to abate the hearing on the
merits, which commenced on August 21, 2017. The hearings were
abated to facilitate settlement discussions among the parties. The
outcome of any hearing or settlement would be subject to review by
the PUCT. EPE expects to file a status report on settlement
progress with the ALJs on a weekly basis.
On February 13, 2017, EPE filed with the City of El Paso, other
incorporated municipalities in its Texas service territory and the
PUCT a request for an increase in non-fuel base revenues of
approximately $42.5 million. When EPE filed its rebuttal testimony
in the rate case on July 21, 2017, it modified the requested
increase in non-fuel base revenues to $39.2 million primarily to
reflect the separation of $3.0 million in rate case expenses into a
separate docket.
“Settlement agreements can occur at any stage in the rate case
process and this suspension of the hearing allows the parties
involved in this case to continue settlement discussions with the
possibility of finding common ground on several issues,” said Mary
Kipp, El Paso Electric President and Chief Executive Officer.
“While we do not know the final outcome, the action taken today
will still allow rates to relate back to July 18, 2017.”
El Paso Electric Company is a regional electric utility
providing generation, transmission and distribution service to
approximately 416,000 retail and wholesale customers in a 10,000
square mile area of the Rio Grande valley in west Texas and
southern New Mexico.
Safe Harbor
This news release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor
provisions within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements often involve risks
and uncertainties that could cause actual results to differ
materially from such forward-looking statements. Risks and factors
that could cause or contribute to such differences include, but are
not limited to: (i) a breakdown in settlement discussions with the
parties in EPE’s Texas rate case; (ii) EPE’s inability to reach
agreement with the intervenors in EPE’s Texas rate case; (iii)
increased prices for fuel and purchased power and the possibility
that regulators may not permit EPE to pass through all such
increased costs to customers or to recover previously incurred fuel
costs in rates; (iv) full and timely recovery of capital
investments and operating costs through rates in Texas and New
Mexico; and (v) other factors detailed by EPE in its public filings
with the Securities and Exchange Commission (SEC). EPE's filings
are available from the SEC or may be obtained through EPE's
website, http://www.epelectric.com. Although EPE believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurances can be given that these expectations will
prove to be correct. Any such forward-looking statement is
qualified by reference to these risks and factors. EPE cautions
that these risks and factors are not exclusive. EPE does not
undertake to update or revise any forward-looking statement that
may be made from time to time by or on behalf of EPE except as
required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170824006096/en/
El Paso Electric CompanyPublic Relations:Eddie Gutierrez,
915-543-5763eduardo.gutierrez@epelectric.comorInvestor
Relations:Lisa Budtke,
915-543-5947lisa.budtke@epelectric.comorRichard Gonzalez,
915-543-2236richard.gonzalez@epelectric.com
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