Lubbock Power & Light Electric Rates to Decrease This Summer
Good news for Lubbock Power & Light electrical customers. Starting June 1, 2019, the summer rate for wholesale power, also known as the “power recovery factor” will go down between 11 to 13 percent.
The Power Recovery Factor is tied to natural gas prices and because those prices have been decreasing, the cost savings will be passed on to LP&L customers. Overall bill decreases during the summer months for most LP&L electric customers will average between 6 to 8.5 percent.
Lubbock Power & Light 2019 Rate Summary
• LP&L is lowering the purchased power recovery factor (PPRF) portion of the electric rate for the fourth time in the past 24 months, which results in a substantial decrease in overall rates for all customers. LP&L purchases power and passes those costs directly to our customers. The lowering of the rate is due to decreasing natural gas prices and a beneficial new power contract that begins on June 1.
• Rate 1 applies to customers who have electric and natural gas service and comprise the majority of our residential customers. Rate 1 customers will see a 6.8% decrease in their monthly cost and should see total savings of $8.98 per 1,000 kilowatt hour usage compared to last summer.
• Rate 3 applies to customers who only have electric service. Rate 3 customers will see an 8.5% decrease in their monthly cost and should see total savings of $30.76 per 1,000 kilowatt hour usage compared to last summer.
Rate Decrease Breakdown:
Rate 1: Base Rate - $0.03381 Purchased Power Recovery Factor - $0.06939 to $0.061770 (11.0% Decrease) Total Rate - $0.09558 per kilowatt hour
Rate 3: Base Rate - $0.02921 Purchased Power Recovery Factor - $0.07055 to $0.061400 (13.0% Decrease) Total Rate - $0.09061 per kilowatt hour
• The new rates will go into effect on June 1, 2019.