El Paso Electric Customers Set a New Peak Demand for Electricity
June 26 2017 - 11:52AM
Business Wire
On June 22, 2017, El Paso Electric Company (“EPE”) (NYSE: EE)
customers set a new peak demand of approximately 1,935 megawatts
(MW), 2.3% or 43 MW higher than the 1,892 MW peak established on
July 14, 2016. This preliminary indication is still subject to
final verification.
The week of June 18th saw sustained near-record high
temperatures, which increased energy demand and electricity usage.
Conversions to refrigerated air conditioners, regional growth and
increasingly hotter weather have led to consistent new annual peak
loads in 16 out of the last 17 years.
“As we begin to experience prolonged periods of excessive heat,
we want to assure customers that we are working hard to maintain
reliable service,” said Mary Kipp, President and Chief Executive
Officer. “Our crews begin preparing several months leading up to
the summer season, so that we can continue meeting the high
customer demand placed on the grid during this time. Conserving
energy during heat waves is an effective way to reduce the stress
on the system, protect the environment and can possibly help save
money.”
For a list of energy saving tips, visit epelectric.com.
About El Paso Electric
El Paso Electric is a regional electric utility providing
generation, transmission and distribution service to approximately
411,000 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's common stock trades on the New York Stock Exchange
under the symbol EE.
Safe Harbor
This news release includes statements that are forward-looking
statements made pursuant to the safe harbor provisions of the
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. This
information may involve risks and uncertainties that could cause
actual results to differ materially from such forward-looking
statements. Additional information concerning factors that could
cause actual results to differ materially from those expressed in
forward-looking statements is contained in EE's most recently filed
periodic reports and in other filings made by EE with the U.S.
Securities and Exchange Commission (the "SEC"), and include, but is
not limited to: (i) increased prices for fuel and purchased power
and the possibility that regulators may not permit EE to pass
through all such increased costs to customers or to recover
previously incurred fuel costs in rates; (ii) full and timely
recovery of capital investments and operating costs through rates
in Texas and New Mexico; (iii) uncertainties and instability in the
general economy and the resulting impact on EE's sales and
profitability; (iv) changes in customers' demand for electricity as
a result of energy efficiency initiatives and emerging competing
services and technologies, including distributed generation; (v)
unanticipated increased costs associated with scheduled and
unscheduled outages of generating plant; (vi) the size of our
construction program and our ability to complete construction on
budget and on time; (vii) potential delays in our construction
schedule due to legal challenges or other reasons; (viii) costs at
Palo Verde; (ix) deregulation and competition in the electric
utility industry; (x) possible increased costs of compliance with
environmental or other laws, regulations and policies; (xi)
possible income tax and interest payments as a result of audit
adjustments proposed by the IRS or state taxing authorities; (xii)
uncertainties and instability in the financial markets and the
resulting impact on EE's ability to access the capital and credit
markets; (xiii) possible physical or cyber attacks, intrusions or
other catastrophic events; and (xiv) other factors of which we are
currently unaware or deem immaterial. EE's filings are available
from the SEC or may be obtained through EE's website,
http://www.epelectric.com. Any such forward-looking statement is
qualified by reference to these risks and factors. EE cautions that
these risks and factors are not exclusive. Management cautions
against putting undue reliance on forward-looking statements or
projecting any future results based on such statements or present
or prior earnings levels. Forward-looking statements speak only as
of the date of this news release, and EE does not undertake to
update any forward-looking statement contained herein.
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version on businesswire.com: http://www.businesswire.com/news/home/20170626005901/en/
El Paso ElectricPublic Relations:Eddie Gutierrez,
915-543-5763eduardo.gutierrez@epelectric.comorInvestor
Relations:Lisa Budtke,
915-543-5947lisa.budtke@epelectric.comorRichard Gonzalez,
915-543-2236richard.gonzalez@epelectric.com
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