+1 City Looks to Buy Local Utility

The city: El Paso TX

The utility: El Paso Electric

The issues surrounding the purchase:

• Cost. Estimated to cost $4.3 billion with 100s of millions of dollars/year in financing costs
• Time. Will take years to study the issue before a purchase could occur
• Study. Can a feasibility study be paid for with El Paso Electric’s annual franchise fee
• Eminent Domain. The City Attorney says state law permits the use eminent domain to acquire utility property

El Paso Times | El Paso Considers Buying Electric Utility, but Is It Worth It?