El Paso Electric Announces Results of Competitive Bid for New Generation
The mix of new capacity underscores EPE’s strategic goal to remain at the forefront in advancing renewable energy and expanding its overall energy portfolio with cost-effective, diverse and competitive-based energy resources for its customers.
“These technologies provide a mix of carbon-free renewable and clean burning natural gas generation that will enable us to meet the growing need for power in our region in a safe, clean, reliable, and cost-effective manner,” said Mary Kipp, El Paso Electric President and Chief Executive Officer. “This balanced combination of resources will work with our existing energy portfolio as we move to retire aging, less efficient plants while continuing to meet our customers’ changing energy needs.”
EPE plans to provide an updated five-year capital expenditure forecast in response to the RFP during its fourth quarter 2018 earnings call. EPE also anticipates providing preliminary projections during the call regarding the potential to enhance grid technology with the addition of Advanced Metering Infrastructure (“AMI”). Legislative proposals regarding the clarification of the regulatory process to implement AMI are anticipated during the next Texas legislative session that convenes in January 2019.
On June 30, 2017, EPE issued the All Source RFP to select additional long-term, cost effective and reliable electric resources to commence operation by the 2022–2023 summer peak season. Through initial resource planning studies, EPE determined that it required additional generating capacity of approximately 50 MW by 2022 and 320 MW by 2023 for a total of 370 MW.
El Paso Electric. Press release - El Paso Electric Announces Results of Competitive Bid for New Generation. URL: https://www.businesswire.com/news/home/20181226005151/en/El-Paso-Electric-Announ.... [Date Accessed: 27/12/2018].
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