April 27, 2018 • EPE Related News
Las Cruces Sun-News: PRC finalizes discounts for El Paso Electric customers
LAS CRUCES - The New Mexico Public Regulation Commission on Wednesday, April 25 finalized an El Paso Electric Co. plan that will lead to slight discounts on customer bills, starting May 1.
El Paso Electric Co. estimates the credit for the average residential New Mexico customer will range from $1.67 per month in the winter to $2.68 per month in the summer. The discount will appear as a line-item adjustment on monthly bills.
At the request of the PRC, the company is issuing the credit due to for New Mexico customers because of a reduction in the corporate tax rate under President Trump.
The slight discounts, which apply to both commercial and residential customers, will be reflected on customer bills beginning May 1.
EPE estimates that customers collectively will see an annual reduction of approximately $4.9 million in base rates, or, a credit for all customers at 3.87 percent.
The company worked with the New Mexico Attorney General’s Office on the proposed reduction.
The corporation tax rate decrease from 35 percent to 21 percent was effective January 1, 2018. It was included in the Tax Cuts and Jobs Act of 2017, which was signed into law on December 22, 2017.
El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 418,900 retail and wholesale customers in a 10,000 square-mile area of the Rio Grande valley in west Texas and southern New Mexico.
Source: https://www.lcsun-news.com/story/news/local/2018/04/25/prc-finalizes-discounts-el-paso-electric-customers/552213002/
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