Is El Paso Electric a monopoly?

Unlike most other Texas utilities, El Paso Electric operates as a monopoly.

Is El Paso Electric deregulated?

El Paso Electric is a public-owned utility company (therefore exempt from deregulation). It is the sole electricity provider in the area and has been operating since 1901.

Who owns El Paso Electric?

El Paso Electric is currently owned by mostly large institutional investors who hold most of the company’s stock shares that are publicly traded on the New York Stock Exchange under the symbol EE. The stock’s been traded on a stock exchange for 72 of its 117-year existence.

What happened to El Paso Electric?

In May, El Paso Electric announced the utility would be sold to JPMorgan’s Infrastructure Investments Fund, or IIF, for about $4.3 billion. The complex deal includes big payouts for top El Paso Electric executives and some financial and philanthropic commitments made by the IIF.

Is CPS Energy a monopoly?

CPS Energy is enjoying a growing customer base, up to 2,000 new customers a month, and part of that is due to the fact that it has not had any rivals in the market. “Right now, CPS Energy is a monopoly,” says Milton Lee, CEO of CPS Energy.

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Why does Austin Energy have a monopoly?

Here’s a quick crash course on why Austin Energy is allowed to have a monopoly in the city limits. … The reason, in very simple terms: Cities had invested hundreds of millions of dollars to build enough power plants or buy enough energy to serve a specific area.

Does El Paso Electric belong to any electricity market?

The company distributes electricity to retail customers principally in El Paso, Texas and Las Cruces, New Mexico; and resells electricity to electric utilities and power marketers. Unlike most other Texas utilities, El Paso Electric operates as a monopoly.

El Paso Electric.

Type Private company

What grid is El Paso Electric?

El Paso Electric is part of the Western power grid overseen by the Western Electricity Coordinating Council.

How many customers does El Paso Electric have in New Mexico?

Today, El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 444,300 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico.

Where does El Paso Texas get its electricity?

El Paso Electric now gets 66 percent of its power from natural-gas fired power plants located in El Paso County; 30 percent from the Palo Verde nuclear power plant in Arizona; and 4 percent from several solar power plants, most of those in New Mexico, according to company officials.