Table of Contents
Table of Contents 2
List of Tables 7
Company Snapshot 8
Key Information 8
Company Overview 8
SWOT Snapshot 8
Operational Metrics 9
El Paso Electric Company, Operational Metrics, By Capacity 9
El Paso Electric Company, Operational Metrics, By Generation 9
El Paso Electric Company, Operational Metrics, By Distribution 9
El Paso Electric Company, Operational Metrics, By Customers 9
El Paso Electric Company, Operational Metrics, By Segmental Information 10
El Paso Electric Company, Wind Farms 11
El Paso Electric Company, Wind Farms, United States 11
El Paso Electric Company, Solar PV Parks 12
El Paso Electric Company, Solar PV Parks, United States 12
El Paso Electric Company, Solar Thermal Plants 13
El Paso Electric Company, Solar Thermal Plants, United States 13
El Paso Electric Company, Thermal Power Plants 14
El Paso Electric Company, Thermal Power Plants, United States 14
El Paso Electric Company, Commercial Reactors 15
El Paso Electric Company, Commercial Reactors, United States 15
Business Description 17
Business Overview 17
Major Products and Services 18
History 19
SWOT Analysis 22
Overview 22
El Paso Electric Company Strengths 22
Long-term Power Purchase Agreements 22
Integrated Business Model 22
Coal-Free Power Generation 23
El Paso Electric Company Weaknesses 23
Working Capital Deficit 23
El Paso Electric Company Opportunities 23
SunShot Initiative 23
Increase in Demand for Electricity 23
Growth of Solar Market 23
El Paso Electric Company Threats 23
Seasonal Variations and Climatic Conditions 23
Risks in Wholesale Market 24
Risk of Non-Acceptance by Public 24
Financial Ratios – Capital Market Ratios 25
Financial Ratios – Annual Ratios 25
Financial Ratios – Interim Ratios 27
Key Employees 28
Key Employee Biographies 29
Locations And Subsidiaries 31
Head Office 31
Financial Deals Landscape 32
El Paso Electric Company, Deals Summary 32
El Paso Electric Company, Power, Deal Details 33
Asset Transactions 33
El Paso Electric to Invest USD46.7 Million in Solar Power Plant in US 33
El Paso Electric To Invest US$120 Million In Solar Power Plant In Texas, US 34
Partnerships 35
El Paso Electric Company Forms Joint Venutre With Newman Solar For Development Of Solar Power Project 35
Debt Offering 36
El Paso Electric Raises USD125 Million in Private Placement of 4.22% Notes Due 2028 36
El Paso Electric Raises USD150 Million in Public Offering of 5% Notes Due 2044 37
El Paso Electric Completes Public Offering Of 3.3% Notes Due 2022 For US$150 Million 39
Recent Developments 41
El Paso Electric Company – Recent Developments 41
May 03, 2018: El Paso Electric Announces First Quarter 2018 Financial Results 41
Nov 01, 2017: El Paso Electric Announces Third Quarter 2017 Financial Results 44
Aug 02, 2017: El Paso Electric Announces Second Quarter 2017 Financial Results 48
May 03, 2017: El Paso Electric Announces First Quarter 2017 Financial Results 51
Feb 23, 2017: El Paso Electric Announces Fourth Quarter and Annual 2016 Financial Results 53
Nov 03, 2016: El Paso Electric Announces Third Quarter 2016 Financial Results 57
Aug 03, 2016: El Paso Electric Announces Second Quarter 2016 Financial Results 62
May 04, 2016: El Paso Electric Announces First Quarter 2016 Financial Results 66
Feb 24, 2016: El Paso Electric Announces Fourth Quarter and Annual Financial Results 69
Nov 04, 2015: El Paso Electric Announces Third Quarter Financial Results 72
Aug 05, 2015: El Paso Electric Announces Second Quarter Financial Results 2015 75
May 06, 2015: El Paso Electric Announces First Quarter Financial Results 78
Feb 25, 2015: El Paso Electric Announces Fourth Quarter and Annual Financial Results 79
Jan 30, 2015: El Paso Electric Announces Quarterly Dividend 82
Nov 21, 2014: El Paso Electric Announces Quarterly Dividend 82
Nov 05, 2014: El Paso Electric Announces Third Quarter Financial Results 82
Oct 21, 2014: El Paso Electric Third Quarter Earnings Release Date and Conference Call Notification 85
Aug 06, 2014: El Paso Electric Announces Second Quarter Financial Results 85
Jul 31, 2014: El Paso Electric Announces Quarterly Dividend 87
May 29, 2014: El Paso Electric Announces an Increase in the Quarterly Dividend 87
May 07, 2014: El Paso Electric Announces First Quarter Financial Results 88
Feb 24, 2014: El Paso Electric Announces Fourth Quarter and Annual Financial Results 89
Jan 23, 2014: El Paso Electric Announces Quarterly Dividend 91
Jan 23, 2014: El Paso Electric Announces Quarterly Dividend 91
Nov 21, 2013: El Paso Electric Announces Quarterly Dividend 91
Nov 06, 2013: El Paso Electric Announces Third Quarter Financial Results 91
Oct 23, 2013: El Paso Electric Third Quarter Earnings Release Date and Conference Call Notification 93
Aug 06, 2013: El Paso Electric Announces Second Quarter Financial Results 93
May 01, 2013: El Paso Electric Reports Revenue Of $120m In Q1 2013 95
Feb 19, 2013: El Paso Electric Reports Revenue Of $601.6m In 2012 96
Nov 01, 2012: El Paso Electric Reports Revenue Of $194.7m In Q3 2012 99
Aug 01, 2012: El Paso Electric Reports Revenue Of $164.4m In Q2 2012 100
May 02, 2012: El Paso Electric Reports Revenue Of $116.6m In Q1 2012 101
Feb 22, 2012: El Paso Electric Reports Revenue Of $619.4m In 2011 102
Nov 02, 2011: El Paso Electric Reports Revenue Of $208.8m In Q3 2011 103
Aug 03, 2011: El Paso Electric Reports Net Operating Revenues Of $165m In Q2 2011 104
May 03, 2011: El Paso Electric Reports Net Operating Revenues Of $114.9m In Q1 2011 105
Feb 22, 2011: El Paso Electric Reports Net Income Of $7.5m In 2010 106
Oct 28, 2010: El Paso Electric Reports Net Income Of $49.9 Million For Q3 2010 106
Aug 04, 2010: El Paso Electric Reports Operating Revenues Of $141.1m In Q2 2010 107
May 04, 2010: El Paso Electric Reports Net Income Of $11.45 Million In Q1 2010 108
Feb 23, 2010: El Paso Electric Reports Net Income Of $66.9 Million In 2009 109
Aug 05, 2009: El Paso Electric Reports Net Income Of $15.4 Million In Q2 2009 110
May 05, 2009: El Paso Electric Reports Net Income Of $9.6 Million In Q1 2009 112
Feb 25, 2009: EPE Reports 2008 Results 114
Nov 05, 2008: EPE Reports 3Q 2008 Results 116
Aug 06, 2008: El Paso Electric Declares 2Q 2008 Results 117
May 06, 2008: EPE Reports Q1 2008 Results 119
Apr 22, 2008: EPE To Announce Q1 2008 Results 121
Feb 28, 2008: EPE Reports Q4 2007 Results 121
Nov 01, 2007: EPE Reports Q3 2007 Results 122
Aug 02, 2007: EPE Declares Q2 2007 Results 124
May 01, 2007: EPE Declares Q1 2007 Results 125
Feb 22, 2007: EPE Reports Q4 2006 Results 126
Sep 19, 2018: Solano customer service office in Las Cruces to Colse 127
Sep 12, 2018: EP Electric to withdraw voluntary New Mexico community solar filing 127
Jul 26, 2018: Construction Begins to Reroute Power Lines 128
May 30, 2018: EP Electric to Perform Transmission Work over I-10 at Raynor Street 128
May 09, 2018: Overnight Transmission Work on Montana and Zaragoza 128
Apr 25, 2018: EP Electric Files for Community Solar Program in NM, Low-Income Option 128
Apr 16, 2018: EP Electric Files to Reduce Fuel Factor in Texas 129
Dec 23, 2017: Las Cruces power outage, more than 5,000 customers affected 129
Dec 14, 2017: Public Utility Commission of Texas Approves Final Order in EPE’s Texas Rate Case 129
Nov 08, 2017: Construction begins on new solar facility at Holloman Air Force Base in US 129
Oct 16, 2017: EPE Files to Reduce Texas Fuel Factor Resulting in Lower Customer Bills 130
Jul 11, 2017: El Paso Electric fixing transformer after recent outages in far east El Paso 130
Jul 11, 2017: Energy Conservation Key in Far East El Paso Neighborhoods 130
Jun 30, 2017: El Paso Electric Issues Request for Proposals to Meet Future Power Generation Needs 131
Jun 26, 2017: El Paso Electric Customers Set a New Peak Demand for Electricity 131
Jun 09, 2017: El Paso Electric Energy Efficiency Programs 131
Jun 05, 2017: El Paso Electric’s Community Solar Facility Comes Online 131
Jun 02, 2017: El Paso Electric Announces El Pasoan as New General Counsel 132
Jun 01, 2017: El Paso Electric to Perform Transmission Work 132
May 15, 2017: El Paso Electric Company: New Pilot Program Rewards for Reducing Energy Use 132
Apr 19, 2017: El Paso’s First Community Solar Program Fully Subscribed 133
Mar 20, 2017: El Paso Electric’s New Community Solar Program Open for Enrollment 133
Feb 13, 2017: El Paso Electric Files 2017 Texas Rate Case 133
Jan 04, 2017: EP Electric wants rate increases in Texas, NM – 1.4.17 134
Nov 16, 2016: Construction Begins on Solar Facility for New Community Solar Program 135
Sep 30, 2016: Surcharges Related to TX Rate Case Effective October 1 135
Sep 15, 2016: Montana Power Station in east El Paso, TX Complete 135
Aug 18, 2016: El Paso Electric Settlement to Drop Solar Demand Charges Part of Growing Trend 136
Aug 18, 2016: Public Utility Commission of Texas Approves Final Order in Texas Rate Case Docket No. 44941 136
Aug 18, 2016: PUCT Approves Final Order in EPE’s Texas Rate Case 137
Aug 03, 2016: Electric Utility in Texas, New Mexico Becomes the First to Go Coal-Free in the Region 137
Aug 02, 2016: EPE Becomes the First Regional Utility to Go Coal-Free 138
Jul 22, 2016: EPE Files Unopposed Settlement In Texas Rate Case 139
Jul 21, 2016: El Paso Electric Files Unopposed Settlement In Texas Rate Case Docket No. 44941 139
Jul 15, 2016: El Paso Electric Sets New Peak 140
Jun 30, 2016: New Rates Effective for Customers in New Mexico 140
Jun 08, 2016: New Mexico Public Regulation Commission Approves Rate Increase in El Paso Electric Rate Case 141
Jun 08, 2016: New Mexico PRC Approves Rate Increase in EPE Rate Case 141
May 27, 2016: El Paso Electric Announces New Vice President 141
May 19, 2016: Texas Commission Issues Decision on Notice in Pending El Paso Electric Rate Case 142
May 04, 2016: Commercial Operation of New Generating Unit: El Paso Electric Company 142
Apr 25, 2016: Scheduling Order Issued in El Paso Electric Company’s Texas Rate Case Docket No. 44941 142
Apr 12, 2016: Interim Rates Approved by the PUCT for Texas Customers 143
Jan 21, 2016: El Paso Electric Files Joint Motion to Abate Procedural Schedule in Texas Rate Case Docket No. 44941 143
Dec 15, 2015: El Paso Electric Appoints Mary Kipp as CEO 143
Aug 24, 2015: EPE Proposes Increase for Rooftop Solar Customers in Texas 144
Aug 10, 2015: El Paso Electric Files 2015 Texas Rate Case 144
Jun 24, 2015: U.S. requires Arizona and New Mexico plant owners to reduce emissions at Four Corners Power Plant on Navajo Nation 145
Jun 10, 2015: EPE Files for New Community Solar Pilot Program in Texas 146
May 11, 2015: El Paso Electric Files 2015 New Mexico Rate Case 147
Apr 08, 2015: EPE Announces Operation of Montana Power Station Units 1 & 2 147
Mar 20, 2015: El Paso Electric Announces Commercial Operation of Montana Power Station Units 1 and 2 147
Feb 18, 2015: PSEG Solar Source Dedicates Its 10th Facility 148
Feb 17, 2015: El Paso Electric Welcomes Largest Solar Facility in El Paso 148
Feb 06, 2015: El Paso Electric Board Elects New Chairman and Vice Chairman 149
Nov 21, 2014: El Paso Electric Names New Vice President of Corporate Development 150
Sep 18, 2014: El Paso Electric Appoints El Pasoan Mary Kipp as New President 150
Aug 25, 2014: El Paso Electric Releases Request for Proposal for Two Utility-Scale Solar Projects 151
Jun 16, 2014: Texas-Based Utility Well-Positioned for New EPA Carbon Standards: Coal-Free By 2016, Largest Solar Facility Doubles Solar Portfolio 151
Apr 29, 2014: EPA Air Permit Issued to El Paso Electric to Build Montana Power Station Becomes Effective 152
Apr 21, 2014: El Paso Electric Announces New Executives 152
Mar 26, 2014: EPA Air Permit Issued to Build Montana Power Station in Far East El Paso 153
Oct 04, 2013: El Paso Electric Announces Promotions 153
Jun 05, 2013: NMPRC Approves Power Purchase Agreement For First Solar’s 50 MW Solar Power Plant In New Mexico 154
Apr 05, 2013: USACE Authorizes El Paso Electric To Begin Work On 20 MW Solar Power Plant At Fort Bliss In Texas, US 155
Feb 07, 2013: El Paso Electric To Build New Transmission And Distribution Operations Center 155
Jun 19, 2012: El Paso Electric And SunEdison Inaugurate Las Cruces Centennial Solar Farm 155
May 31, 2012: EPE Appoints Thomas Shockley As Permanent CEO 156
May 02, 2012: APS’ Unit 3 At Palo Verde Nuclear Generating Station Returns To Service 156
Feb 01, 2012: El Paso Electric Files Rate Case As Ordered By EPCC 156
Jan 31, 2012: El Paso Electric Announces Resignation Of David Stevens As CEO 157
Jan 24, 2012: El Paso Electric Breaks Ground On $75m Addition To Rio Grande Power Generating Station 157
Oct 28, 2011: SolFocus And Solar Smart Living Complete 53kW CPV System For El Paso Electric 158
Oct 19, 2011: NextEra Energy Commissions Hatch Solar Energy Center In New Mexico 158
Oct 04, 2011: Earthjustice Files Lawsuit Against Owners And Operator Of Four Corners Power Plant 158
Aug 31, 2011: NRG Solar Solar Begins Operations At New Mexico’s Roadrunner Solar Generating Facility 159
Aug 31, 2011: EPCC Announces Installation Of Solar Photovoltaic System At Advanced Technology Center Of EPCC’s Valle Verde Campus 159
Jul 18, 2011: El Paso Electric Files Request With Texas PUC To Increase Its Fuel Factor Charge 160
Jun 09, 2011: NMED Issues Air Quality Permit To El Paso Electric To Construct New Turbine At Rio Grande Generating Station 160
Feb 15, 2011: 22nd Navajo Nation Council Approves Lease Extension For APS’s Four Corners Power Plant 160
Dec 10, 2010: NRG Energy Expands Into New Mexico With Roadrunner Solar Project 161
Oct 06, 2010: APS’ Unit 3 At Palo Verde Nuclear Generating Station Taken Offline For Maintenance 161
Sep 15, 2010: El Paso Electric Announces Resignation Of George A. Williams As Senior Vice President And COO 162
Jun 15, 2010: El Paso Electric Promotes Mary E. Kipp As Senior Vice President, General Counsel And Chief Compliance Officer 162
Jun 10, 2010: El Paso Electric Implements FASTapps From Efacec ACS As First Phase In Smart Grid Program 162
May 20, 2010: NREL Study Shows Power Grid Can Accommodate Large Increase In Wind And Solar Generation 163
Feb 03, 2010: Palo Verde Unit 1 Sets Production Record 163
Sep 08, 2009: El Paso Electric Appoints George Williams As SVP And COO 164
Aug 04, 2009: El Paso Electric Announces Executive Promotions 164
May 08, 2009: El Paso Electric Board Member Gary Hedrick Resigns 165
Apr 30, 2009: El Paso Electric EVP Scott Wilson To Retire 165
Nov 13, 2008: El Paso Appoints New CEO 165
May 07, 2008: EPE Elects New Chairman 166
Feb 12, 2008: EPE President And CEO Resigns 166
May 15, 2007: EPE Appoints President And CEO 166
Jul 28, 2016: El Paso Electric And Solar Industry Achieve Agreement In Rate Case 167
Feb 29, 2016: El Paso Electric and City of El Paso Agree in Principle on Terms of Settlement for Texas Rate Case Docket No. 44941 168
Feb 19, 2014: New Solar Power Station to be Built in Northeast El Paso 168
Jul 08, 2013: 20kW Solar Power Installation Coming Soon to Van Horn 169
Nov 14, 2012: El Paso Electric And Element Power Sign Power Purchase Agreement For 50 MW AC Macho Springs Solar PV Project 169
Sep 02, 2011: El Paso Electric Receives 25 MW Renewable Energy From Two Solar Power Plants In New Mexico 170
Jul 26, 2011: El Paso Electric Selects GE’s LMS100 Aeroderivative Gas Turbine Technology For Rio Grande Power Plant Expansion 170
Jul 01, 2011: El Paso Electric Issues Requests For Proposal For Power Sources 170
Jun 14, 2010: El Paso Electric Issues RFP For Its Load Requirement In 2015 170
Jun 11, 2009: El Paso Electric Signs PPA With NRG Energy For 92 MW Solar Power 171
Jul 07, 2008: GE Oil & Gas Installs ThreatScan (TM) Sensors At El Paso’s Natural Gas Pipeline 171
Jun 30, 2008: El Paso, Xcel, PNM And Tri-State Jointly Seek Proposals For Solar Plant 172
Jan 21, 2008: EPE Issues Request For Proposals For Renewable Energy Supply 172
Appendix 174
Report Scope 174
GlobalData Coverage 174
Benchmarking 174
GlobalData’s Methodology 174
Secondary Research 174
Primary Research 175
Contact Us 175
Disclaimer 175
El Paso Electric Company, Key Facts 8
El Paso Electric Company, Operational Metrics, Capacity 9
El Paso Electric Company, Operational Metrics, Generation 9
El Paso Electric Company, Operational Metrics, Distribution 9
El Paso Electric Company, Operational Metrics, Customers 9
El Paso Electric Company, Operational Metrics, Segmental Information 10
El Paso Electric Company, Wind Farms, United States 11
El Paso Electric Company, Solar PV Parks, United States 12
El Paso Electric Company, Solar Thermal Plants, United States 13
El Paso Electric Company, Thermal Power Plants, United States 14
El Paso Electric Company, Commercial Reactors, United States 15
Major Products and Services 18
El Paso Electric Company, SWOT Analysis 22
El Paso Electric Company, Ratios based on current share price 25
El Paso Electric Company, Annual Ratios 25
El Paso Electric Company, Interim Ratios 27
El Paso Electric Company, Key Employees 28
El Paso Electric Company, Deals Summary 32
El Paso Electric to Invest USD46.7 Million in Solar Power Plant in US 33
El Paso Electric To Invest US$120 Million In Solar Power Plant In Texas, US 34
El Paso Electric Company Forms Joint Venutre With Newman Solar For Development Of Solar Power Project 35
El Paso Electric Raises USD125 Million in Private Placement of 4.22% Notes Due 2028 36
El Paso Electric Raises USD150 Million in Public Offering of 5% Notes Due 2044 37
El Paso Electric Completes Public Offering Of 3.3% Notes Due 2022 For US$150 Million 39
