Energy Manifesto for the People and the Planet

FRANCHISE AGREEMENT

You are being misled by City Staff and JP Morgan lobbyists. Here’s the truth.

On Dec 17th, the “terms” of the sale have been approved by City Council. We believe this was a grave mistake. But this does not mean the buyout is a done deal. In order for the deal to be finalized, City Council must approve the Franchise Agreement. No Franchise Agreement, means no buyout. Period. This puts our elected representatives in the driver’s seat. They have all the leverage in this negotiation, should they so choose to. City Staff and JP Morgan lawyers have spread disingenuous information on the Franchise Fee to scare City Council into fast-tracking the approval of the Franchise Agreement.

1.     This “Once-in-a-generation” vote will cement your legacy in local politics for decades to come.

2.     You have all of the leverage in this negotiation; act like it.

3.     A “Right to Purchase” Provision is necessary.

4.     You have not done your due diligence as a City Council.

5.     The Franchise Fee Myth.

6.     The MCA myth.

7.     JP Morgan’s concessions so far are breadcrumbs; we are worth more.

8.     40 years is way too much of a commitment.

9.     Questions are left unanswered at a federal level.

FINANCIAL JUSTICE

How this buyout is a form of financial exploitation on our city

1.     Private equity funds are not structured to serve the interests of the community.

2.     We cannot trust JP Morgan to run our electric utility with integrity.

3.     This has happened before, and it did not end well.

4.     $4.3 Billion, is an overtly inflated cost of El Paso Electric.

CLIMATE JUSTICE

Why we oppose the deal for environmental concerns.

1.     JP Morgan makes money off of the Climate Crisis.

2.     Private ownership means less democracy and less possibility for a clean energy future.

3.     JP Morgan already has plans to continue their pattern of market manipulation through more fossil fuels.

4.     For-profit electric utilities discourage rooftop solar and overall renewable energy.

Full text with detail available at justice.sunriseelpaso.org