The New Mexico Public Regulation Commission Wednesday approved a $1.1 million El Paso Electric (EPE) rate hike. EPE had originally requested $8.6 million, or 7.1%, but later reduced its request to $6.4 million. In a press release, the utility said it expects the $1.1 million rate hike will take place in the third quarter of this year.
However, El Paso Electric will continue efforts to increase rates further. Its press release stated, "As we continue to serve our growing service territory and bring additional generating units into commercial operation, we anticipate filing a new rate case in New Mexico in early 2017. The next rate case will be necessary to seek recovery of the costs associated with new generating units, transmission and distribution infrastructure, as well as request a fair return on equity."