Electric Rates Going Down In El Paso?
Well, not exactly. But, they aren't going up either!
El Paso Electric wanted a $39 million rate increase but, the city pushed it back down to $14 million. (Good job city of El Paso. For once, you pushed taxes/rates in the right direction.) That final figure would be lessened even more if any tax law changes benefited El Paso Electric. Meaning, if THEY got a break, it had to be passed on to US and that's exactly what happened with President Trump's new tax plan.
the savings will essentially wipe out El Paso Electric's rate increase. "To have $21 million come back means, in effect, that the ratepayer will not have any increase in their rates and will actually be receiving a $7 million rate reduction (later this year)," Margo said, "46 percent of that seven million applies to residential ratepayers - pretty good news all around."
Soooo......instead of your electric bill going up, watch for refund "credits" on it around mid-year!