EL PASO, Texas (KTSM) – El Paso Electric (EPE) announced that starting with the August billing cycle its Texas customers will begin to receive a rate credit on their electric bills.
The $21 million of credits will be issued over 3 years, officials said.
“This bill credit is one of many benefits created for EPE and its customers as part of the IIF transaction. As a long-term investor in utility companies, IIF is aligned with EPE and its mission,” said Eddie Gutierrez, Vice President of Customer and Community Engagement.
The typical EPE Texas residential service customer, using an average of 630 kilowatt-hours of energy per month, will see an average monthly bill decrease of $0.88, or 1.13%, for the next 36 months, EPE officials said.
Pending regulatory approval, New Mexico customers will receive $8.7 million of bill credits over three years, according to El Paso Electric.
The typical EPE New Mexico residential service customer using an average of 674 kilowatt-hours of energy per month will see an average monthly bill decrease of $1.37, or 1.76%, for the next 36 months.
Regulatory approval is expected to occur this August.