Contact Us

Lubbock Power and Light Highlights Cost-Cutting Measures

LP&L

Lubbock’s city-owned utility is searching for more ways to lower costs.

A press release sent Thursday morning outlines some of the ways that Lubbock Power & Light has worked to drop costs.

They highlighted the Electric Utility Board’s recommendation to pay off $5,640,000 of debt with high financing costs, and the Lubbock City Council approved redeeming certain outstanding obligations with higher interest rates.

“The 2003 bonds that are expected to be redeemed in November have an average interest rate of 4.6 percent,” said EUB Chairman Mike Davis. “By paying them off early, LP&L will avoid interest costs of about $1.6 million over the next 10 years.”

EUB member and former City Council member George Carpenter elaborated, saying that “A lot of people consider refinancing debt when interest rates are low, but when you can pay the debt off, that is the best way to go.”

More From KFYO

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://kfyo.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News/Talk 790 KFYO quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Register on News/Talk 790 KFYO quickly by logging in with your Facebook account. It's just as secure, and no password to remember!