JP Morgan / IIF are attempting to purchase El Paso Electric Co. The city is considering this transaction without even having all of the data to research if they should keep the Utility and Municipalize since they DO NOT have to give away their Franchise Agreement. We are requesting a delay so they can conduct a feasability study for municipalization. The city should know more about this possible acquisition and how it could negatively affect our community. Contact City Council and the Mayors office asking them to VOTE NO on the sale of El Paso Electric to JP Morgan.
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Pueblo, Colorado City Council voted 5-2 in favor of funding the phase 2 feasibility study on the fiscal realities of the city ending its franchise agreement with Black Hills Energy early and creating its own municipal utility. They will examine the details of breaking away from it's Franchise Agreement. The city will pay EES Consulting Inc. $150K-$200K for the study. The 51-page Phase 1 Study, which cost the City $122K, determined that Pueblo ratepayers could save 10%-12% a year if the city creates its own municipal electric utility. Read the Full Article.
Below are PDF documents outlining Case Studies on Municipalization and the steps to creating a municipal utility:
We feel that the citizens of El Paso, the City of El Paso, and those customers outside of Texas, should take control of the Electric Utility and create a Municipal Electric Utility. We want to do this for the same reasons that we created a Municipal Water Utility in El Paso. This would benefit all rate payers and our city.