It’s Official: Lubbock Is Going to Be Part of ERCOT
I'm not surprised that this happened. I'm just concerned what the future holds -- not just for the city, but for my wallet as well.
On Thursday, March 8th, the Public Utilities Commission of Texas approved Lubbock to become part of the Electric Reliability Council of Texas (ERCOT). The city has to be on the grid by June 1, 2021.
Of course, LP&L, and we the taxpayers by default, get to pay $22 million a year for the next five years to reimburse ERCOT for the integration, as well as a one-time payment of $24 million to Xcel Energy.
City leaders claim that this will provide cost savings in the long run, but I don't see how. We're already $134 million in the hole before we have even connected to anything. And guess who gets to pay that? Yup -- us, the ratepayers.
All we can hope for is that competition will be allowed in this market and we can select carriers other then LP&L. I know I will be one of the first to switch.
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