Type Public company Area served Texas, New Mexico Website www.epelectric.com Number of employees 1,000 Net income 126.6 million USD (2014) | Industry Electric utilities Key people Mary E. Kipp, CEO Revenue 917.3 million USD (2014) Founded 1901 | |
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Traded as NYSE: EE
S&P 600 Component Stock price EE (NYSE) US$ 48.85 0.00 (0.00%)7 Mar, 4:02 PM GMT-5 - Disclaimer Headquarters El Paso, Texas, United States CEO Mary E. Kipp (15 Dec 2015–) Profiles | ||
El paso electric company celebrates 10th anniversary of trading
El Paso Electric (NYSE: EE) is Texas based public utility company, engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, purchased power, solar and wind turbines. The company owns 6 electrical generating facilities with a net dependable generating capability of approximately 2,010 megawatts. It serves approximately 400,000 residential, commercial, industrial, public authority, and wholesale customers.
Contents
- El paso electric company celebrates 10th anniversary of trading
- El paso electric
- History
- Transmission system
- Generating plants
- Lawsuits
- References
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. El Paso Electric Company was founded in 1901 and is based in El Paso, Texas.
The company is headquartered at the Stanton Tower in Downtown El Paso. The company's Chief Executive Officer is Ms. Mary E. Kipp.
El paso electric
History
El Paso Electric (EPE) first began serving its customers on August 30, 1901. It was then known as the El Paso Electric Railway Company. Initially its primary business consisted of providing transportation via mule-drawn streetcars, which were replaced in 1902 with electric streetcars. By 1925, the Company’s core business had evolved to producing and distributing electricity. That year, the company changed its name to the El Paso Electric Company. It was also granted authorization to transact business in New Mexico.
Today, El Paso Electric is a regional electric utility providing generation, transmission, and distribution service to approximately 400,000 retail and wholesale customers in a 10,000-square-mile (26,000 km2) area of the Rio Grande valley in west Texas and southern New Mexico. Its service territory extends from Hatch, New Mexico to Van Horn, Texas.
Transmission system
El Paso Electric transmission system voltages are 115,000 volts and 345,000 volts. There are also two 115 kV interconnections with Mexico to the south.
Generating plants
El Paso Electric ownership in power plants include a 15.8 percent interest in the Palo Verde Nuclear Generating Station in Wintersburg, Arizona, a 7 percent interest in the Four Corners Generating Station in northwestern New Mexico, the Rio Grande Power Station in Sunland Park, New Mexico, the Newman Power Station, the Copper Power Station and the Montana Power Station in El Paso and the Hueco Mountain Wind Ranch in Hudspeth County, Texas.
In February 20, 2014 El Paso Electric signed an agreement with Colorado-based juwi solar inc to build a 10 megawatt (MW) solar energy facility in Northeast El Paso next to EPE’s Newman Generation Station. JSI will be responsible for developing, designing, building and operating the Newman Solar project. The design phase will begin in early summer of this year, shortly followed by construction and final completion of the project tentatively scheduled for the end of 2014. The construction of the new solar facility will help power over 3,800 homes throughout the year. The facility will be built on approximately 100 acres. EPE will sublease the land in partnership with the El Paso Water Utilities (EPWU) and currently leased to EPE for the Newman Generation Station. EPE currently has 47 MWs of solar power in its generation mix and recently secured an additional 50 MWs of solar power that will be online by the summer of this year. In total, 5 percent of EPE’s dedicated generation, which includes long-term purchase power agreements, will come from solar energy.
Lawsuits
In January, 2003, a complaint was filed against EI Paso Electric alleging that the company issued materially false and misleading information by misrepresenting and/or omitting adverse facts concerning illegal arrangements with Enron Corporation and by artificially inflating revenues. A settlement of $10,000,000 was reached in 2005.