El Paso Electric eyes another rate increase in New Mexico

LAS CRUCES, N.M. (AP) — A utility company that serves around 400,000 customers in southern New Mexico is eyeing another rate hike this spring. The Las Cruces Sun-News reports (https://goo.gl/aXRRgL ) that El Paso Electric hasn't determined how large of an increase it will seek in New Mexico. But El Paso Electric vice president Eddie Gutierrez says it would likely mirror the one submitted this week to the Texas Public Utility Commission. That request seeks an overall $42.5 million increase in revenues, or an 8.7 percent increase, for Texas customers. Last June, El Paso Electric sought and received a $1.1 million rate increase in New Mexico.