El Paso Electric Decreases Rates For Borderland Customers

City Council voted unanimously to approve a $15 million settlement with the El Paso Electric Company on Tuesday. The settlement will result in a $15 million rate decrease for borderland customers, according to city officials.

In a press release from the city breaking down the settlement, residential customers will share in the $1.5 million annual decrease in the form of a credit to their summer electric bills from May through October. The remaining $13.5 million will go towards commercial and industrial classes.

The average customer will see a savings of $0.83 per 600 kilowatt hours used and any profits. Any power factor revenues over $250,000 will be shared with customers.

In addition, the release also specifies that all of the expenses incurred by the rate case will be paid by the El Paso Electric company and not passed onto ratepayers.

EPE had initially filed a $26 million rate increase, and city officials said they were pleased with the outcome that lead to the $15 million decrease.

City Representative Courtney Niland said shortly after the announcement on her Twitter account, “I’m thrilled! This is a victory for people and small businesses of El Paso.”

The last time EPE rates decreased was in 1998.