EL PASO, Texas (KTSM) — El Paso City Council is set to take up the pending sale of El Paso Electric. City Representatives will discuss the item behind closed doors in Monday’s executive session.
The sale still needs the approval of the Texas Public Utilities Commission and the City gets to make a recommendation to the commission whether to approve, amend, or deny the sale.
As KTSM previously reported, Infastruction Investments Fund (IIF), an investment group tied to JP Morgan, is in the process of building El Paso Electric for $4.3 billion dollars. Last week, the utility and IIF issued a statement saying they’ve reached an agreement with most of the parties that would be impacted by the sale.