LP&L To Pay $24 Million To SPS Under Agreement To Join ERCOT
The Utility Board governing the Lubbock Power & Light has approved terms of various stipulations with stakeholders that would approve its petition before the Texas PUC to join ERCOT.
The terms of a stipulation on the SPP-side of the proceeding had not previously been disclosed. According to EverythingLubbock.com, LP&L has agreed to pay $24 million to Southwestern Public Service (Xcel Energy) as part of the transition.
As previously reported, LP&L has stated an intent to introduce retail electric choice for the load moved to ERCOT, and is conducting a further study on whether to ultimately introduce such choice