EL PASO, Texas (KTSM) – During the hot summer months, some residents in El Paso could see a decrease in their electric bills.
El Paso Electric (EPE) said it filed a temporary fuel refund with the Public Utility Commission of Texas. The fuel refund would apply to EPE customers who reside in Texas and would take effect in July and August.
According to EPE, if the refund and the refund period are approved, the average residential customer could see a monthly savings of about $5.94 in July and about $6.58 in August for a total savings of $12.52 over the two-month period.
Large commercial customers will receive a one-time credit in July 2020, officials said.
According to EPE, the fuel factor is designed to recover the cost of the fuel used to generate electricity, a cost the company said it incurs supplying electricity to customers. EPE said it is permitted by its regulators to only recover the actual fuel expenses and any over-recoveries are then subject to refund. Officials said it adjusts fuel factors periodically to more accurately reflect the current and forecasted cost of fuel. EPE said it does not earn a profit on fuel costs.