EL PASO, Texas--(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.
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20171102006881/en/
El Paso Electric Company
Lisa Budtke, 915-543-5947
Source: El Paso Electric Company
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