Karen Gibson Discusses LP&L Rate-Stabilization Plan [Audio]

Friday on Lubbock's First News, Karen Gibson, Mayor Pro Tem, discussed the approval of Lubbock Power and Light's rate-stabilization plan at the City Council meeting that took place November 21.

The rate-stabilization plan is intended to help reduce the more drastic changes of highs and lows from month to month. It is hoped that this will help with budgeting and save on power use. The new plan will go into effect on December 1. It will use a flat rate for months June through September and a separate, lower, flat rate for all other months. The Council believes this will help customers budget for monthly bills, as well as allow LP&L to make more standardized payments to Excel Energy. $3.5 million will be moved from the city's reserve to create a new balancing account; the new account will have a cap of $7 million. Gibson believes, "it is a much better way of doing it."

Listen to the full interview for more details on the City Council Meeting: