LUBBOCK (PR) - Good news for Lubbock Power and Light (LP&L) electric customers. Your March electric bill will be significantly cheaper. Due to falling natural gas prices, the typical LP&L residential electric customer will see fuel charges on their bill drop $20 a month.
On Thursday, the Lubbock City Council approved the rate change which will take effect March 1. The recent vote allows LP&L to continue its tradition of providing the lowest rates in Lubbock.
"We are excited to share this news with our customers in view of the current economic situation. Thanks to fuel costs dropping, we are able to lower our rates and continue to offer the lowest rates in town," Chris Sims, the spokesperson for LP&L, said.
When a residential customer using 1000kWh of electricity per month compares their February 2009 bill to their March 2009 bill, they will see fuel charges drop an average of $20.02. If fuel prices remain stable, LP&L expects customers to keep seeing these savings monthly until June 2009 when the savings will change to $15.36 per month.
In addition to this reduction, LP&L's Home Owned Electric Discount applied to each rate class will remain in effect, ensuring that all LP&L electric customers will have the lowest electric bill in the Lubbock market.
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