Four days from now the Lubbock City Council will vote on a recommendation to raise electric rates at Lubbock Power & Light, but that's not the only change which could be hitting your wallet.
One councilman wants to eliminate your annual LP&L rebate.
An LP&L spokesman tells us $1,568,857 in rebates were issued to their customers last year.
Councilman Todd Klein says he thinks the money from rebates would better serve customers in other ways.
The council will hear the proposal at Tuesday's meeting, but in order for the proposal to pass, there would have to be a public hearing.
Klein is recommending changing the city ordinance to do away with rebates to LP&L customers.
He says rebates were issued in the past when LP&L was competing against Xcel energy, but now LP&L has a monopoly.
Klein says customers would get more use from that money if LP&L could use it for other purposes. Klein proposes paying down LP&L debt or increasing cash reserves for future projects.
"For the average folk, 5 to 6 bucks," Klein continued. "I think you'd take care of reserves, take care of debt, we need to move to pay as you go."
Lubbock Mayor Tom Martin says he would be against doing away with rebates and that the reserve balance is currently doing fine. Martin estimates the average customer receives between $20 and $40 from the rebates.
The council would have to vote on Klein's recommendation and hold a public hearing before any action is taken.
Klein said the money wouldn't necessarily have to go to the reserves, but he's encouraging city leaders to think about the future, particularly the rising demand for and cost of energy.
Copyright 2011 KCBD NewsChannel 11