Electric Utility Board Votes Against Rate Increases

The Electric Utility Board for Lubbock Power & Light yesterday voted against proposed rate increases that could have started next month.

KAMC 28 reports that Xcel Energy, which generates electricity purchased by LP&L, has increased the price of wholesale electricity it sells.

The increased costs from Xcel could range from an additional $2 million to $6 million dollars per year, for the next three years.

LP&L will have to use its reserves to cover increased costs in the interim.

Also, even though the Electric Utility Board voted against the proposed rate increases, the final decision rests with the Lubbock City Council, which takes into account the recommendations from the Electric Utility Board.

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