El Paso City Council continues session to decide whether to support or oppose the sale of El Paso Electric

EL PASO, Texas -- El Paso City Council is continuing discussions over the proposed sale of El Paso Electric. The city must decide whether to support or oppose the $4.3 billion sale. No decision was reached Monday after a marathon executive session.

The city's decision will ultimately go before the Texas Public Utility's Commission (PUC). The city requested an extension for a December 17 deadline so city leaders could continue negotiations, but that request was denied.

Some of the top concerns from city leaders include keeping electric rates low and keeping headquarters in the Borderland, as well as keeping jobs for El Paso Electric's current employees.

The proposed sale of the utility to a J.P. Morgan Chase investment fund is supported by El Paso's Hispanic Chamber of Commerce, and the Borderplex Alliance.

"This presents an opportunity for El Paso to actually have a headquarters, with a commitment that the headquarters will remain run El Paso," Adrian Rodriguez, the Interim CEO of El Paso Electric, said. "There's also a workforce commitment in which employees will, we will maintain jobs in El Paso."

The proposed sale has faced opposition from groups like Rate 41, which is made up of county commissioners, several school districts and El Paso Community College, among other agencies. A smaller union, representing 400 of the 1100 El Paso Electric workers also opposes the proposed sale.

"We feel it's important to really understand it thoroughly," Susan Austin, a representative for Rate 41, said. "Perhaps a feasibility study needs to be done. Mainly, we don't believe enough benefits from the sale, the over purchase price are being pushed down to the rate payers."

City leaders are continuing discussions Tuesday at 7 a.m.