El Paso Electric creates currents along the Rio Grande River. The
utility transmits and distributes electricity to some 372,000
customers in West Texas and southern New Mexico. More than half of
the company's sales come from its namesake city and nearby Las
Cruces, New Mexico. The firm has more than 1,640 MW of nuclear,
fossil-fuel, and wind-based generating capacity. El Paso
Electric also purchases power from other utilities and marketers,
and sells wholesale power in Texas and New Mexico, as well as
in Mexico. Its largest customers include military installations,
such as Fort Bliss in Texas and White Sands Missile Range and
Holloman Air Force Base in New Mexico.
In 2010 about 45% of the company's energy capacity
came from natural gas, and 27% from nuclear power.
To encourage conservation and a greener energy profile (to meet
state and federal carbon emission regulations) El Paso Electric's
Renewable Energy Program gives incentives
to customers using power generated from renewable
energy sources, such as geothermal, solar, and wind. The El
Paso Solar Photovoltaic Pilot Program pays incentives to customers
who install solar panels at their homes.
In 2009 the company reported drop in revenues, primarily because
of the effects of the global recession. While its residential
revenues picked up (thanks to a growth in residential customers and
increased sales to public authorities) El Paso Electric saw its
fuel sales drop sharply in the wake of decreased third party demand
from other utilities. This resulted in lower net income for
Increased rates and high demand (prompted by an improving
economy and colder-than-usual winter weather) helped to lift
revenues and income in 2010.
In 2008 the company appointed industry veteran David Stevens as
CEO, replacing interim president and CEO J. Frank Bates.
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