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Tag: Lubbock Electricity

  • Lubbock’s Electricity Market to Open January 2024!

    This Monday Lubbock Power and Light on Monday said it has completed connecting the last 30% of electricity customers to the new network with the Electric Reliability Council of Texas. This is a historic event for the City of Lubbock and teh region.

    After 8 years, the largest migration of electrical load in state history is now complete. 100 percent of customers are connected to the ERCOT grid. It is significant to note that all conversion work was completed without a single safety incident.

    Now we can all focus on getting the best rate in the retail competitive market over the next 90 days.

    There will be a six-week shopping window from January 5 – February 15, 2024, to shop for a new provider. Then, starting in March 2024, all customers will be migrated to their chosen providers over the course of the month. Lubbock residents will get their last power bill from LP&L in March. Lubbock’s municipally owned utility will then transition to strictly being a “transmission and distribution” utility whose primary focus will be the safe and efficient delivery of power to residents and businesses.

    Electricity Lubbock TX Power

    GET THE LOWEST ELECTRICITY PRICE FOR YOUR HOME

    FIND THE BEST ELECTRIC PLAN FOR YOUR BUSINESS

    Force electricity companies to compete! Electricity providers will offer a lower price because they know they are competing for the business. This drives your price down…

    CLICK HERE TO START SAVING
    Lubbock TX City Council Vote on Electricity

    Then on Tuesday, the Lubbock City Council members approved the next step for Lubbock’s historic switch to the ERCOT grid and the competitive electric market. Now it’s time for customers to start shopping.

    Many are anxious and want to understand the process to make sure that they get the best possible electricity rate.

    Rest assured if you forget or procrastinate, you won’t be left in the dark. Customers will be assigned a default provider Lubbock has already established. And there will be opportunities to switch a new, better/cheaper electricity plan even after you are pushed to the default provider and electric rate.

  • Lubbock Electricity Market Opening Delayed

    Lubbock is getting close to opening up electric competition to force electricity companies to compete for the business of residents and local companies. The goal is to lower electricity rates and offer customers various electricity plans based on their needs. Though we’re all ready and have seen advertisements all over the place from electricity retailers, the market is not quite ready yet.

    At this time, people should be wary of front door scams because electricity companies are not yet allowed to sign up any customers in Lubbock for a new electricity plan. Nonetheless, now is a good time to start to better understand how it all works, research the process, and get a handle on how to get the lowest price on electricity in Lubbock, TX.

    Why The Delay with The Lubbock Electric Deregulation?

    Government officials and managers at Lubbock Power & Light have provided an updated timeline on when electric competition will come to Lubbock. The process has been delayed pending one final federal approval. The new timeline is based on having the last 30% percent of customers switch from the old southwest power pool to the ERCOT grid. When that final customer is converted over to ERCOT, competition can begin.

    Electricity Lubbock TX Power

    GET THE LOWEST ELECTRICITY PRICE FOR YOUR HOME

    FIND THE BEST ELECTRIC PLAN FOR YOUR BUSINESS

    Force electricity companies to compete! Electricity providers will offer a lower price because they know they are competing for the business. This drives your price down…

    CLICK HERE TO START SAVING

    When Will The Lubbock Electricity Market Open?

    The launch is expected to happen near the very end of the year, and customers can begin choosing their electric company, electricity price and plan in January 2024.

    Remember that if residential customers in Lubbock and local businesses do not choose a retailer, there are safety net providers so no one will go without electricity and power. Any customer that has not chosen a provider by the announced deadline will be randomly assigned one of a few electricity companies that have been pre-selected.

  • Lubbock Electricity Market Opens up to Competition

    For Lubbock, cost was one of the many reasons the city council decided to take the step to join ERCOT. In a recent study, the utility found that electric costs could drop an estimated $148.9 million annually for the city of Lubbock. Additionally, due to overall electric demand, if Lubbock remained disconnected from the ERCOT grid, the city would require a new power plant with an estimated cost of more than $700 million.

    Impact on Electricity Prices

    In the years leading up to deregulation in the state, electricity prices in Texas were among the highest in the country. Since deregulation, prices have fallen significantly. Like any other product or service (e.g., mobile phone service), it is up to the consumer to make smart buying decisions or pursue calculated risks when selecting an electricity plan based on market conditions or short-term promotions.

    Other Consequence of Electricity Deregulation

    One negative consequence has been higher prices during peak demand periods. This is because the deregulation of the wholesale market has led to a number of power plants being shut down. This has reduced the amount of power available during peak demand periods, which can lead to higher prices during spikes in demand, like during the 2021 winter storm.

    Another potentially negative consequence of deregulation for consumers has been the creation of a number of deceptive plans that have resulted in “rate shock” cases where people have been caught off guard by their utility bill. These are cases in which consumers have been switched to a higher-priced electricity plan without their knowledge or consent. This has led to a number of consumer complaints and has damaged the reputation of the deregulation process.

    Save on Your Electric Bill

    GET THE BEST ELECTRICTY FOR YOUR BUSINESS

    We FORCE electricity companies to compete! Electricity providers will offer a lower price to us because they know they are competing for the business. This drives your price down!

    CLICK HERE TO START SAVING

    LubbockElectric.Org

    Lubbock Electricity

    While the Public Utility Commission of Texas regulates the state’s electric utilities, LubbockElectric.org is now available to help customers new to open-market competition. When it comes to an essential utility like electricity in Lubbock, service as import as electricity service, the organization hopes to protect customers and get people the lowest electric rate possible by making mart, informed choices when when they select an electric plan.

    What is electric deregulation?

    In 1999, the Texas Legislature passed a deregulation law that made it possible for consumers in most parts of Texas to choose their own electric company. The new law was passed to encourage free market competition and lower prices. Some areas, such as municipalities and cooperatives, were not required to deregulate, so customers in those areas may not have electric choice.

    What changed in electric service?

    People living in specific zip codes in and around Lubbock can choose their electric company (also called a Retail Electric Provider or REP). What did not change? The same wires companies (also called Transmission and Distribution Utilities) continue to deliver electricity to homes and businesses, regardless of which company is selling a customer electricity. Local wires companies still read meters, respond to service interruptions, and continue to maintain the poles and wires.

    Does everyone in and around Lubbock get to choose their electric provider?

    No. It depends on where in Texas you live. Some communities are served by municipalities, cooperatives, or investor-owned utilities, so electric choice is not available.

    With competition, will the reliability of my electric service change?

    No. Regardless of which electric company you choose, your electricity will continue to be delivered safely and reliably by the local wires company, which is regulated by the PUC.