Scheduling Order Issued in El Paso Electric Company’s Texas Rate Case Docket No. 44941
April 25 2016 - 08:36PM
Business Wire
On April 22, 2016, the Administrative Law Judges (“ALJs”) in El
Paso Electric Company’s (the “Company” or “EPE”) (NYSE: EE) rate
case pending before the Public Utility Commission of Texas (“PUCT”)
issued an Order Setting Procedural Schedule, Notice of Hearing on
the Merits, and Ruling on Notice. The procedural schedule calls
for, among other things, a hearing on June 21 – 22, 2016 on the
merits of the proposed settlement of the rate case, which will not
include the severed Four Corners Power Plant issue. At this time
the Company cannot predict when the PUCT will issue a Final Order
in this rate case. Regardless of when the Final Order is issued,
the new rates will relate back to consumption on and after January
12, 2016. Furthermore, as approved by the ALJs, the Company
implemented interim rates, subject to refund or surcharge,
effective April 1, 2016.
El Paso Electric is a regional electric utility providing
generation, transmission and distribution service to approximately
400,000 retail and wholesale customers in a 10,000 square mile area
of the Rio Grande valley in west Texas and southern New Mexico. El
Paso Electric has a net dependable generating capability of 2,055
MW.
Safe Harbor
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 (the “Securities Act”), and Section 21E of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”).
This information often involves risks and uncertainties that could
cause actual results to differ materially from such forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to: (i) uncertainty
regarding the actions and timing of matters in EPE’s Texas rate
case pending before the PUCT; (ii) EPE’s inability to reach
agreement with the intervenors in EPE’s Texas rate case; (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; and (v) other factors detailed by EPE in its public filings
with the Securities and Exchange Commission. EPE's filings are
available from the Securities and Exchange Commission or may be
obtained through EPE's website, http://www.epelectric.com. Although
El Paso Electric 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. EPE does not undertake to update any forward-looking
statement that may be made from time to time by or on behalf of EPE
except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160425006616/en/
El Paso Electric CompanyPublic RelationsEddie Gutierrez,
915-543-5763eduardo.gutierrez@epelectric.comorInvestor
RelationsLisa Budtke,
915-543-5947lisa.budtke@epelectric.comorRichard Gonzalez,
915-543-2236richard.gonzalez@epelectric.com
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