To adjust for energy costs, El Paso Electric (EPE) has announced that its Texas customers will see a credit on their November and December bills. This credit will show up in the fuel charge line item of their statements, according to Tuesday's correspondence from the company.
The forthcoming credit is estimated to save the average residential customer close to $3.00, "an estimated savings of 3.75%," per KFOX-TV. It's a move that reflects the routine adjustments made to account for changes in fuel prices, a cost that the utility incurs without profit in the generation of electricity for its consumers.
Texas residents with an account under EPE can expect to see this temporary price break as a line item when they review their upcoming energy bills. The specific amount of the credit will be contingent on the rate service plan they currently have. KVIA reports that "Refunds will vary on rate service customers are on."
The utility company clarified that while fuel costs are adjusted monthly for New Mexico customers, Texas customers experience these adjustments less frequently. "The fuel factor is designed to recover the cost of the fuel used to generate electricity," an EPE spokesperson elucidated, as obtained by KTSM. The message reinforces EPE's position that the company does not gain any profit from the fuel charges levied on its customers' bills.
