LP&L Lowers Electric Rate for Summer 2020
Lubbock Power & Light is lowering the power cost recovery factor portion of the electric rate for Summer 2020.
LP&L says this is the 6th overall rate decrease in the last 3 years, resulting in substantial savings for all customers during the hottest months of the year.
The LP&L Electric Utility Board voted unanimously during their regularly scheduled April board meeting to implement the rate decrease.
The average residential customer using 1,000 kilowatt hours of electricity per month, will see an average decrease of 11 percent for the power cost recovery factor, for summer 2020, compared to summer 2019; which amounts to a monthly savings of at least $24 dollars.
The reduced rate is effective for all residential and commercial customers from June 1st through September 30th, 2020.