Lubbock Power and Light Changes Given Final Approval
Customer refunds are no longer required under the ordinance, and gives LP&L the option to issue refunds out of the General Reserve if they so choose.
This changes the original ordinance, which says that remaining net operating revenues shall be refunded.
LP&L’s General Reserve must also now be equal to three months gross revenue generated from all retail electric sales.
The Council also approved the second reading of an ordinance which gives more power to the Lubbock Electric Utility Board. The office of the director of electrical utilities is now directly responsible to the Electric Utilities Board as well.
More information on these changes is available here.
Also approved by the council is the option to continue reconstruction on 34th Street further west than originally planned. Costs for the reconstruction have been under what was originally planned, so the project could span as far as Quaker Avenue. The project was originally scheduled to reconstruct 34th Street from Avenue Q to Indiana Avenue.