LP&L Gives $5,000,000 Back to Customers

LP&L has also met their required reserves and in the 2008‐09 fiscal year will contribute approximately $5,000,000 annually to the City of Lubbock in Franchise Fee Equivalent payments, $1,120,000 from discounted electric rates, $4,000,000 in refunded fuel cost adjustments and $1,000,000 in electric rebates for a total of $11,120,000 back into the Lubbock economy. LP&L is doing all this while continuing their policy of being the lowest priced electric provider in the city and among the lowest in the state.

http://www.lpandl.com/News/2009/LP%26L%20Gives%205%20Million%20To%20Customers.htm

Citizens put themselves at helm of LP&L

With 83 percent of voters in favor of moving control of the power company into an Electric Utility Board, Lubbock voters gave its City Council authority to appoint a nine-member panel to run LP&L operations.

http://www.lpandl.com/news.htm

New Payment Option – Pay By Phone

 

LUBBOCK, Texas – Lubbock Power & Light announces the launch of a free Pay By Phone option for customers.

In addition to the very popular free on-line payment option, customers now have a sixth option for paying their utility bill. Customers can pay their bill by telephone or cell phone by calling (806) 775-3409.

LP&L customers already have the lowest electricity costs among electricity providers in Lubbock and around the state. More than 900 customers access the free Pay LP&L on-line web option each day and LP&L expects the new Pay By Phone option to be just as successful in meeting our customers needs and expectations.

http://www.lpandl.com/News/2008/Pay%20By%20Phone-%20New%20Release.pdf

 

Lower Electric Rates

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.

http://www.lpandl.com/News/2009/Lower%20Electric%20Rates.htm

Fitch Upgrades LP&L

Lubbock Power & Light (LP&L) recently received a ratings upgrade from Fitch Ratings, a leading global rating agency.  Fitch boosted LP&L’s rating from a ‘BBB+’ to ‘A-’ for the City of Lubbock’s $16.5 million of outstanding electric light and power system revenue bonds.

The upgrade to ‘A-‘ is primarily based on LP&L’s continued financial improvement.  The electric company has continued to remain competitive by gaining 8,000 new electric customers since 2006

http://www.lpandl.com/News/2009/Fitch%20Upgrades%20LP%26L.htm

Keeping Utility Costs Down

Recent increases in water rates have concerned many Lubbock residents, and LP&L is often the first place irritated taxpayers turn to vent their frustrations. The reason is simple: all of the city-owned utility bills are included together in one LP&L envelope even though LP&L is no longer managed by the city. Too many Lubbockites see their utility bills and blame LP&L for the policies and rates of other city utilities. Here are the facts.

http://www.lpandl.com/News/2009/Keeping%20Utility%20Costs%20Down.htm

Lubbock Power & Light Receives a Bond Ratings Upgrade

Lubbock Power & Light (LP&L) received a rating upgrade today from Standard & Poor’s Ratings Services, a leading global rating agency.  Standard & Poor’s Ratings Services raised its underlying rating (SPUR) on Lubbock, Texas’, doing business as Lubbock Power & Light (LP&L), electric system revenue bonds two notches to ‘A-’ from ‘BBB’ based on the system’s sustained trend of improved financial performance due to a combination of a reduced operating profile risk and an increased market share in its competitive service area.

http://www.lpandl.com/News/2009/S%26P%20Upgrades%20LP%26L.htm

LP&L Reaches Major Milestone

W.R. Collier, Chairman of the Lubbock Power & Light Electric Utility Board, announced at a press conference today that the utility had achieved a major milestone.  Collier said, “Today LP&L has good news to announce.  We have officially met our $50 million in reserves as mandated in the 2004 City Council ordinance that separated the management of LP&L from the city.  LP&L is back in the black and financially stable once again.”

The reserves were met while LP&L was charging the lowest rates in the city and some of the lowest rates in the state.  The money will provide sufficient cash to meet current operational obligations, stabilize customers’ rates and pay the City of Lubbock the equivalent of a franchise fee. 

http://www.lpandl.com/News/2009/Good%20News%20For%20Lubbock.htm

How to Read Your Electric and Water Meter

Never question another electric or water bill again.  Lubbock Power and Light (LP&L) is making you the expert when it comes to reading your LP&L electric meter and City of Lubbock water meter.

LP&L has placed educational videos on their Web site at www.lpandl.com explaining how to read your LP&L electric meter and City of Lubbock water meter.  In the video, Tracy Rollins, the meter reading supervisor for LP&L, demonstrates how to read both meters in only five minutes.

http://www.lpandl.com/News/2009/How%20To%20Read%20Your%20Meters.htm

LP&L Saves $71,000 In One Year

http://www.lpandl.com/News/2009/LP%26L%20Saves%20$71,000%20In%20One%20Year.pdf