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SOUTHWESTERN PUBLIC SERVICE WINS COURT APPROVAL TO OBTAIN INFORMATION FROM EL PASO ELECTRIC

SOUTHWESTERN PUBLIC SERVICE WINS COURT APPROVAL TO OBTAIN INFORMATION FROM
 EL PASO ELECTRIC
 AMARILLO, Texas, Oct. 1 /PRNewswire/ -- Southwestern Public Service Company (NYSE: SPS) today said it has received bankruptcy court approval to obtain previously withheld financial and other information from El Paso Electric Company, clearing the way for SPS to proceed with its evaluation of the feasibility of an acquisition or business combination with the bankrupt El Paso utility.
 In granting SPS's request for the EPE information at a hearing Wednesday, the court restricted SPS from negotiating a rate path with regulators until expiration of EPE's "period for confirmation" on Dec. 23. SPS would have preferred to discuss with regulators all aspects of an SPS proposal that would affect customers, including rates, prior to Dec. 23. SPS said it is not restricted from talking to and working with all other constituents.
 EPE has been operating under Chapter 11 of the federal bankruptcy code since Jan. 8, 1992. In March, SPS expressed an interest in pursuing either xpacquisition or business combination with EPE that could form a plan of reorganization. SPS said that to develop a proposal with maximum value for constituents, however, it would need access to certain financial and other information that had not been made available to it.
 Southwestern Public Service Company primarily provides electric service to a population of approximately one million people in the South Plains and Panhandle of Texas, eastern and southeastern New Mexico, the Oklahoma Panhandle and southwestern Kansas.
 -0- 10/01/92
 CONTACT: Ken Vaughn, manager of communication of Southwestern Public Service Company, 806/378-2116.
 (SPS) CO: SOUTHWESTERN PUBLIC SERVICE CO.; EL PASO ELECTRIC CO. IN: UTI ST: TX -- NY015 -- X916 10/01/92
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Publication:PR Newswire
Date:Oct 1, 1992
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