El Paso Electric Files Unopposed Settlement in Texas Rate Case Docket No. 46831
November 02 2017 - 6:23PM
Business Wire
El Paso Electric Company (“EPE”) (NYSE: EE) filed an unopposed
settlement agreement (the “Unopposed Settlement”) today for EPE’s
rate case (Docket No. 46831) pending before the Public Utility
Commission of Texas (“PUCT”). The Unopposed Settlement was filed
with the Administrative Law Judges (“ALJs”) assigned to oversee
EPE’s Texas rate case and includes a request for the ALJs to return
the settled case to the PUCT for final approval. If approved by the
PUCT, the Unopposed Settlement would resolve EPE's Texas rate
case.
“Today’s filing is an important milestone in the rate case
process,” said Mary Kipp, El Paso Electric's
President and Chief Executive Officer. “We are pleased with
the terms of the unopposed settlement and how the parties involved
worked together to find common ground on many issues. El Paso
Electric will continue to focus on the future energy needs of our
growing region.”
It is anticipated that the PUCT will issue a final order in the
case during the fourth quarter of 2017 and new rates are expected
to be implemented in January 2018. The new rates will relate back
to consumption on or after July 18, 2017. The revenues pertaining
to the relate back period that would have been collected during the
period will be surcharged to customers over a period not to exceed
eighteen months.
A copy of the Unopposed Settlement can be found on EPE’s website
at www.epelectric.com and will also be publicly available from the
PUCT at https://interchange.puc.texas.gov.
El Paso Electric Company is a regional electric utility
providing generation, transmission and distribution service to
approximately 417,000 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) the Unopposed Settlement is not approved by the
PUCT or is approved with modification; (ii) the PUCT’s final order
in EPE’s Texas rate case is not approved in the fourth quarter of
2017 and new rates are not implemented in January 2018; (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; (v) the impact of U.S. tax reform legislation; and (vi)
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. The forward-looking
statements are subject to and involve risks, uncertainties and
assumptions and you should not place undue reliance on these
forward-looking statements. 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. If EPE does
update one or more forward-looking statements, there should be no
inference that EPE will make additional updates with respect to
these or other forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171102006881/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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