El Paso Electric has announced that starting in the August billing cycle its Texas customers will receive a rate credit on their electric bills. The company will issue $21 million in credits over three years. The typical residential service customer, using an average of 630 kilowatt-hours of energy per month, will see an average monthly bill reduction of $0.88 per month. Pending regulatory approval, New Mexico residents will receive a total of $8.7 million in bill credits over three years. The credits were agreed upon during the recent sale of El Paso Electric to Infrastructure Investments Fund.
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