El Paso Electric
| File:El Paso Electric Company Logo.jpeg | |
| Company type | Public company |
|---|---|
| NYSE: EE | |
| Industry | Electric utilities |
| Founded | 1901 |
| Headquarters | , |
Area served | Texas, New Mexico |
Key people | Thomas V. Shockley III, CEO |
| Revenue |  USD 873.46 Million (2012)[1] |
| USD 93.18 Million (2012) [2] | |
Number of employees | 1,000[3] |
| Website | www |
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, and wind turbines. The company owns 6 electrical generating facilities with a net dependable generating capability of approximately 1,765 megawatts. It serves approximately 400,000 residential, commercial, industrial, public authority, and wholesale customers.[4]
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.[5]
The company is headquartered at the Stanton Tower in Downtown El Paso. The company's Chief Executive Officer is Mr. Thomas V. Shockley III.
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.[6]
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 and the Copper Power Station in El Paso and the Hueco Mountain Wind Ranch in Hudspeth County, Texas.
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.[7]A settlement of $10,000,000 was reached in 2005.
References
- ^ "El Paso Electric Co. (EE) -". Yahoo! Finance. Retrieved 2013-08-25.
- ^ "El Paso Electric Co. (EE) -". Yahoo! Finance. Retrieved 2013-08-25.
- ^ "About El Paso Electric -". El Paso Electric. Retrieved 2013-06-26.
- ^ "About El Paso Electric -". El Paso Electric. Retrieved 2013-06-26.
- ^ "About El Paso Electric -". El Paso Electric. Retrieved 2013-06-26.
- ^ "About El Paso Electric -". El Paso Electric. Retrieved 2013-06-26.
- ^ "Class Action Lawsuit Against El Paso Electric".