-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 PlmBBD7ia30XD2ZMLW+i/FcF99nwKZwX76gf4mY0URdWsvxsDKKwIXZeYlAMZgKl
 Yp0ExHVYo1ATUpZlYnQkKg==

<SEC-DOCUMENT>0001181431-03-034449.txt : 20031208
<SEC-HEADER>0001181431-03-034449.hdr.sgml : 20031208
<ACCEPTANCE-DATETIME>20031208111832
ACCESSION NUMBER:		0001181431-03-034449
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031204
FILED AS OF DATE:		20031208

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EL PASO ELECTRIC CO /TX/
		CENTRAL INDEX KEY:			0000031978
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				740607870
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		303 N OREGON ST
		CITY:			EL PASO
		STATE:			TX
		ZIP:			79901
		BUSINESS PHONE:		9155435711

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BUSSER STEVEN P
		CENTRAL INDEX KEY:			0001220871

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14206
		FILM NUMBER:		031041796

	BUSINESS ADDRESS:	
		STREET 1:		123 W MILLS
		CITY:			EL PASO
		STATE:			TX
		ZIP:			79901
		BUSINESS PHONE:		9155435711

	MAIL ADDRESS:	
		STREET 1:		123 W MILLS
		CITY:			EL PASO
		STATE:			TX
		ZIP:			79901
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd24879.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-12-04</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000031978</issuerCik>
        <issuerName>EL PASO ELECTRIC CO /TX/</issuerName>
        <issuerTradingSymbol>EE</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001220871</rptOwnerCik>
            <rptOwnerName>BUSSER STEVEN P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7014 BLACK RIDGE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EL PASO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>79912</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Treasurer</officerTitle></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Option Right to Buy</value></securityTitle><conversionOrExercisePrice><value>12.78</value></conversionOrExercisePrice><transactionDate><value>2003-12-04</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>50000</value></transactionShares><transactionPricePerShare><value>12.78</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F1"/></exerciseDate><expirationDate><value>2013-12-04</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common</valu
e></underlyingSecurityTitle><underlyingSecurityShares><value>50000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>50000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Options vest annually in five equal increments beginning on December 4, 2003.</footnote></footnotes><ownerSignature><signatureName>Norma Ayoub as attorney in fact for Steven P. Busser</signatureName><signatureDate>2003-12-08</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----