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El Paso Electric Files to Refund Fuel Costs to Texas Customers

May 13, 2010

Due to the drop in natural gas prices over recent months, El Paso Electric, on May 12, filed a request with the Public Utility Commission of Texas to implement an interim refund of fuel costs billed under its fuel factor through March 2010. In its filing, EPE is asking to implement the refund over a period of two months effective with July 2010 bills and continuing through August 2010 bills.

If the PUCT approves the request to implement an interim refund, the average residential customer using 500 kWh per month will see a decrease in their electric bill of $4.61, or 7.52 percent, per month for two months.

Under Texas law, fuel costs are adjusted periodically to assure that utilities collect only their actual fuel costs. Over-collection of fuel costs results in a credit (refund) to customers, while under-collection of fuel costs results in a charge (surcharge) to customers to compensate for the under-recovery.

“We’re asking the Commission to approve our request as soon as possible so our customers will be able to benefit from the reduction during the upcoming summer months when electric usage tends to increase,” said David Stevens, El Paso Electric Chief Executive Officer.

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