Should City Council approve rate hike on Tuesday? - KCBD NewsChannel 11 Lubbock

Should City Council approve rate hike on Tuesday?

By James Clark - email

LUBBOCK, TX (KCBD) - Should Lubbock Power & Light raise rates on Tuesday?  The LP&L Board says no but it's the City Council that has the final say. 

LP&L will soon have to pay more for wholesale electricity because its provider, Xcel Energy, raised the rates.  Some LP&L Board members argued in favor of raising the rates in April.  But a majority of the LP&L Board would like to delay a rate hike until later this year or next year. 

Just prior to LP&L's purchase of Xcel's Lubbock assets, it had more than $90 million in the bank and it has made profits of roughly $4.5 million so far this fiscal year.  The most profitable months of May, June, July, August and September are still to come. 

Some, like Board member Gail Kring, argued last week that LP&L can afford to eat the cost of higher wholesale power while some businesses in Lubbock cannot. 

But everyone agrees that the rate hike is coming sooner or later.  So, should LP&L spend money to put off the inevitable?  That's the debate that City Council will have Tuesday before making a final decision on the electric rates. 



Copyright 2011 KCBD NewsChannel 11.  All rights reserved.

  • Local News on KCBD.comNewsMore>>

  • The Latest: Czech star Ledecka secures rare Olympic double

    The Latest: Czech star Ledecka secures rare Olympic double

    Friday, February 23 2018 8:14 PM EST2018-02-24 01:14:57 GMT
    Saturday, February 24 2018 1:19 PM EST2018-02-24 18:19:33 GMT
    (AP Photo/Michael Sohn). Driver Nadezhda Sergeeva and Anastasia Kocherzhova of the Olympic Athletes of Russia take a curve in their third heat during the women's two-man bobsled final at the 2018 Winter Olympics in Pyeongchang, South Korea, Wednesday, ...(AP Photo/Michael Sohn). Driver Nadezhda Sergeeva and Anastasia Kocherzhova of the Olympic Athletes of Russia take a curve in their third heat during the women's two-man bobsled final at the 2018 Winter Olympics in Pyeongchang, South Korea, Wednesday, ...

    The International Bobsled and Skeleton Federation says it isn't commenting yet on an alleged anti-doping rule violation by Russian women's bobsledder Nadezhda Sergeeva.

    The International Bobsled and Skeleton Federation says it isn't commenting yet on an alleged anti-doping rule violation by Russian women's bobsledder Nadezhda Sergeeva.

  • The Latest: Official: 18 soldiers killed in west Afghanistan

    The Latest: Official: 18 soldiers killed in west Afghanistan

    Saturday, February 24 2018 1:15 AM EST2018-02-24 06:15:26 GMT
    Saturday, February 24 2018 1:18 PM EST2018-02-24 18:18:18 GMT
    (AP Photo/Massoud Hossaini). Security forces inspect the site of a suicide bombing in the diplomatic area of capital Kabul, Afghanistan, Saturday, Feb. 24, 2018.  Interior ministry spokesman Najib Danish said several people were wounded in Saturday's a...(AP Photo/Massoud Hossaini). Security forces inspect the site of a suicide bombing in the diplomatic area of capital Kabul, Afghanistan, Saturday, Feb. 24, 2018. Interior ministry spokesman Najib Danish said several people were wounded in Saturday's a...

    Afghan official says at least three security personnel have been killed in separate suicide bombing attacks in southern Helmand province.

    Afghan official says at least three security personnel have been killed in separate suicide bombing attacks in southern Helmand province.

  • Indictment of Missouri governor could have political ripples

    Indictment of Missouri governor could have political ripples

    Saturday, February 24 2018 9:15 AM EST2018-02-24 14:15:50 GMT
    Saturday, February 24 2018 1:17 PM EST2018-02-24 18:17:31 GMT
    It didn't take long after Greitens was indicted for alleged invasion of privacy for Missouri Democrats to tie him to Attorney General Josh Hawley. (Source: AP Photos)It didn't take long after Greitens was indicted for alleged invasion of privacy for Missouri Democrats to tie him to Attorney General Josh Hawley. (Source: AP Photos)

    The indictment of Missouri Gov. Eric Greitens on felony invasion of privacy charges could have political implications beyond his office.

    The indictment of Missouri Gov. Eric Greitens on felony invasion of privacy charges could have political implications beyond his office.

Powered by Frankly