reports
Moody's announces completion of a periodic review of ratings of El Pas...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of El Paso Electric Company. Global Credit Research- 07 Oct 2020. New York, October 07, 2020-- Moody's Investors Service has completed a periodic review of the ratings of El Paso Electric Company and other ratings that are associated with the same analytical unit.
El Paso Electric Announces Closing of Acquisition by the Infrastructur...
EL PASO, Texas--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE:EE) announced today that its acquisition by the Infrastructure Investments Fund (IIF) has closed. The new Board of Directors has appointed Kelly Tomblin as incoming Chief Executive Officer. Ms. Tomblin will join EPE after a three-decade career leading utilities both in the United States and internationally. She brings deep expertise in the generation, transmission and distribution sectors as well as renewable development, and energy services and sales. Most recently, Ms. Tomblin served as President and CEO of INTREN, L.L....
El Paso Electric Declares Stub Period Dividend
EL PASO, Texas--(BUSINESS WIRE)-- Today, the Board of Directors of El Paso Electric Company (NYSE:EE) declared a “stub period” dividend in an amount equal to $0.004505 per share of EE common stock (which reflects the most recent regular quarterly EE common stock dividend rate of $0.41 per share, divided by 91 days), multiplied by the number of days from and including June 17, 2020, the day after the record date for the most recent regular quarterly EE common stock dividend, to and including the closing date of EE’s previously announced acquisition by the Infrastructure Investments Fund (IIF), ...
El Paso Electric and the Infrastructure Investments Fund Announce Rece...
EL PASO, Texas & NEW YORK--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE:EE) and the Infrastructure Investments Fund (IIF) today announced that the Federal Energy Regulatory Commission (FERC) issued its final order approving the parties’ transaction. The FERC order marks the final regulatory approval needed to complete the transaction. EPE and IIF issued the following statement: We are pleased to have received the final regulatory approval needed to complete the acquisition of EPE by IIF, which further confirms the significant value the transaction will provide to our customers, e...
El Paso Electric Customers Set a New Peak Demand for Electricity Durin...
EL PASO, Texas--(BUSINESS WIRE)-- On Monday, July 13, 2020, El Paso Electric Company (EPE) (NYSE: EE) customers set a new peak demand for electricity of approximately 2,173 megawatts (MW), 9.5% or 188 MW higher than the peak established in 2019. This is the highest level of energy demand growth on record and it also surpasses EPE’s 2020 peak demand forecast and reaches peak demand levels that were expected in 2026. This press release features multimedia. View the full release here: EPE 2020 Peak Load Chart (Graphic: Business Wire) The new peak demand for electricity occurred between the hours...
El Paso Electric Announces Payment of Quarterly Dividend of $0.41
EL PASO, Texas--(BUSINESS WIRE)-- El Paso Electric Company (NYSE:EE) announced that it paid a full regular cash dividend of $0.41 per share of EE common stock on June 30, 2020 to shareholders of record as of the close of business on June 16, 2020. EE had previously announced that the amount of the dividend depended on the closing date of EE’s previously announced acquisition by the Infrastructure Investments Fund (IIF). EE expects its Board of Directors to declare a “stub period” cash dividend in an amount equal to $0.004505 per share of EE common stock (which reflects the most recent regula...
El Paso Electric Declares Dividend
EL PASO, Texas--(BUSINESS WIRE)-- Today, the Board of Directors of El Paso Electric Company (NYSE:EE) declared a cash dividend on shares of EE common stock. If EE’s previously announced acquisition by the Infrastructure Investments Fund (IIF) occurs on or before June 16, 2020, EE will pay a “stub period” cash dividend in an amount equal to $0.004231 per share (which reflects the most recent regular quarterly EE common stock dividend rate of $0.385 per share, divided by 91) multiplied by the number of days from and including March 18, 2020, the day after the record date for the most recent regu...
El Paso Electric and the Infrastructure Investments Fund Agree to Exte...
EL PASO, Texas & NEW YORK--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE: EE) and the Infrastructure Investments Fund (IIF) today announced that they have mutually agreed to extend the termination date for the transaction under the terms of the previously announced Agreement and Plan of Merger to September 1, 2020. As previously announced, the proposed acquisition is pending final approval from the Federal Energy Regulatory Commission (FERC). On April 15, 2020, EPE and IIF filed proposed mitigation options with the FERC as requested by the FERC in its March 30, 2020 order conditiona...
El Paso Electric Files Required Base Rate Review in New Mexico to Comp...
NEW MEXICO--(BUSINESS WIRE)-- As required by the New Mexico Public Regulation Commission (NMPRC) in connection with an order in 2016, El Paso Electric (EPE) (NYSE: EE) today filed a base rate review with the NMPRC. The timing for the review and the deadline for filing today was set in January 2020 and approved by the NMPRC in March 2020. “The timing of this filing is required to comply with an order originally issued in 2016 from the NMPRC. We are sensitive to the timing of this rate review, and as a regulated electric utility, we respect the process and the policies and procedures set forth...
El Paso Electric and the Infrastructure Investments Fund Confirm Expec...
EL PASO, Texas & NEW YORK--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE: EE) and the Infrastructure Investments Fund (IIF) issued the following statement in connection with the order issued today by the Federal Energy Regulatory Commission (FERC): "This is a routine procedural order that does not address the merits of any rehearing request. It serves the limited purpose of affording additional time for FERC to respond to rehearing requests. The March 30, 2020 FERC order conditionally authorizing the transaction remains in full force and effect, and we continue to anticipate closing...
El Paso Electric Announces First Quarter 2020 Financial Results
EL PASO, Texas--(BUSINESS WIRE)-- El Paso Electric Company (NYSE:EE): Overview Generally Accepted Accounting Principles ("GAAP") Financial Measures For the first quarter of 2020, El Paso Electric Company ("EE" or the "Company") reported net loss of $35.2 million, or $0.87 basic and diluted loss per share. In the first quarter of 2019, EE reported net income of $6.1 million, or $0.15 basic and diluted earnings per share. Non-GAAP Financial Measures For the first quarter of 2020, EE reported adjusted net loss of $8.7 million, or $0.21 adjusted basic loss per share. In the first quar...
El Paso Electric First Quarter 2020 Earnings Release Date
EL PASO, Texas--(BUSINESS WIRE)-- El Paso Electric Company (the “Company) (NYSE:EE) will release its financial results for the three months ended March 31, 2020 on Friday, May 8, 2020. In light of the previously announced Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which the Company will be purchased by an affiliate of the Infrastructure Investments Fund (“IIF”), a private investment vehicle advised by J.P. Morgan Investment Management Inc., the Company no longer holds quarterly earnings conference calls to review quarterly financial results and no longer provides earning...
An unfavourable environment weighs on EL PASO ELEC.CO., which sees a d...
The independent financial analyst theScreener just requalified the general evaluation of EL PASO ELEC.CO. (US), active in the Conventional Electricity industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as defensive. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Neutral. As of the analysis date April 21, 2020, the closing...
Federal Energy Regulatory Commission Issues Conditional Authorization ...
EL PASO, Texas & NEW YORK--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE: EE) and The Infrastructure Investments Fund (IIF) announced that the Federal Energy Regulatory Commission (FERC) issued an order authorizing IIF’s proposed acquisition of EPE, subject to the FERC’s approval of mitigation to address certain discrete competitive effects of the transaction that could arise. FERC concluded that the acquisition, as conditioned, satisfies governing federal standards and authorized the acquisition as consistent with the public interest. EPE and IIF issued the following statement: “...
New Mexico Public Regulation Commission Unanimously Approves Proposed ...
EL PASO, Texas & NEW YORK--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE: EE) and The Infrastructure Investments Fund (IIF) today announced that the New Mexico Public Regulation Commission (NMPRC) approved IIF’s proposed acquisition of EPE. EPE and IIF issued the following statement: We are pleased that the NMPRC approved the unopposed stipulation and the Hearing Examiner’s modifications. The parties worked collaboratively to reach a mutual understanding early in the process. Today’s unanimous approval by the NMPRC confirms the significant value the proposed acquisition will provi...
El Paso Electric License Transfer Approved by U.S. Nuclear Regulatory ...
EL PASO, Texas & NEW YORK--(BUSINESS WIRE)-- El Paso Electric Company (EPE) (NYSE: EE) and the Infrastructure Investments Fund (IIF) today announced that the U.S. Nuclear Regulatory Commission (NRC) approved the joint application for the indirect transfer of control of EPE’s ownership interest in the Palo Verde Nuclear Generating Station to IIF as a result of its proposed acquisition of EPE. EPE and IIF issued the following statement: This approval marks another important milestone in connection with IIF’s proposed acquisition of El Paso Electric. In addition to approval from EPE sharehold...
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