EL PASO, Texas (KTSM) — El Paso City Council will hold a special meeting Monday to decide their next steps with the sale of El Paso Electric.
City Representatives will be given a presentation on the El Paso Electric merger and franchise agreement. As KTSM previously reported, the Electric Company currently pays a small portion of its revenue to the city. That franchise agreement would need to be transferred to El Paso Electric’s new owners, IFF.
Council approved a settlement for the stale to move forward for $4.3 billion and it’s now up to state regulators to move the deal forward.
The City is hosting a pair of public meetings on the sale. The first is this Thursday at 5:30 p.m., followed by a second meeting on Tuesday, January 14 at 5:30 p.m. The City has not announced a location for the meetings.