LP&L Plans To Beat Competitor Prices - KCBD NewsChannel 11 Lubbock

4/28/04

LP&L Plans To Beat Competitor Prices

Lubbock Power and Light plans to meet or beat the rates of competitor, Xcel Energy.

Xcel has imposed a rate hike that is scheduled to take affect May 1st. At that time, Xcel will be charging 75-cents more per thousand kilowatt hours. The rate hike was approved to pay for the rising cost of natural gas, a problem LP&L was faced with a year ago.

However, LP&L says they spared passing the cost on to customers, by purchasing cheaper "coal generated" power.

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