City Of El Paso Says No To EP Electric But There Are No Heroes Here
El Paso City Council has said no to the El Paso Electric Company's proposed rate case. El Paso Electric has to file its comprehensive base rate case every four years because of laws and stuff.
Look, if you want to know why they have to do that, click here and you can get all the reasons why they have to file a rate case. El Paso Electric is also trying to get back about a billion dollars in infrastructure investments they've made over the past few years.
COST OF DOING BUSINESS
When I make improvements to my house, I don't get that money back. It's a cost of being a homeowner. I just don't see why El Paso Electric customers need to pay them to maintain their infrastructure. We already do. It's called a monthly electric bill. They are supposed to be paying their employees, paying to maintain their infrastructure, and paying dividends to their stockholders. That's what you do when you have a business.
$10 A MONTH
The proposed rate case could increase the average homeowners' monthly bill by ten dollars a month. That's a $120 a year chunk. It doesn't sound like a lot of money but when you figure that every four years another chunk of your paycheck is going to a higher bill, it starts to add up.
IT'S NOT ALL BAD
Ok, yes, there is something good about El Paso Electric. They kept the lights on during a historically cold winter storm that knocked out the rest of Texas' power. Remember ERCOT? El Paso Electric did a lot of work to make sure we stayed safe during the storm this past February and I appreciate their efforts. I just wish I didn't feel like the extra $10 they want is going to be going to their stockholders. Oh well, I guess when you own a utility you get to do what you want with your money.