El Paso Electric reaches settlement with lower increase in rates

El Paso Electric has reached a settlement agreement on how its rates will go up each month.
They will implement these new rates by January 2018.
The proposed settlement states that EPE’s Texas residential customers will see an average bill increase between $3.50 to less than $5 per month due to winter and summer rates. While that’s an increase of almost 5 percent, EPE’s Texas small commercial customers would see an average bill decrease of approximately 2 percent.
“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.”
Last February, EPE asked the Pubblic Utility Commission of texas and municipal authorities to approve a $42.5 million increase to recover investments made in the Montana Power Stations. But this settlement is a $14.4 million increase.
The unopposed settlement was filed with the Administrative Law Judge and was sent over to the Public Utility Commission of Texas for final approval.