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.

El Paso Mayor Dee Margo told KVIA that:

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!