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Texas REP Southwest Power & Light Says It Weathered The Winter Storm "Unscathed", Notes "Strong Liquidity"
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Texas retail electric provider Southwest Power & Light issued an announcement stating, "Southwest Power & Light, a longstanding retail electricity provider headquartered in
Texas, assures its customers of Southwest Power & Light’s commitment to serving and
supporting its Texas and national customer base through the aftermath of the February
2021 winter storm."
"Southwest Power & Light deploys proprietary hedging strategies that
efficiently and comprehensively manage risks, resulting in highly competitive stable rates
for our customers -- as such, we will continue business as usual with strong liquidity, and
none of Southwest Power & Light’s customers will incur any interruptions in our great
customer service," the company said
Southwest Power & Light said that it, "weather[ed] [the] storm unscathed, just as SWP&L has done during all the other weather events over the past 17 years."
"Southwest Power & Light strives to offer solely 'suitable' plans for our customers. We
made a decision long ago to stay away from offering or marketing 'trendy' or 'gimmicky'
high risk plans such as some competitors’ index plans tied to volatile indexes, which could
otherwise endanger our customers’ monthly cash flows. We don’t believe index plans
tied to ERCOT’s spot market, where prices went from near 3 cents per kWh to over $9 per
kWh for almost 96 straight hours last week, are at all suitable for residential or small
commercial customers. Moreover, we don’t believe the spot market is intended to be
relied upon by consumer level customers for that purpose," Southwest Power & Light said
Southwest Power & Light is part of the Texpo Energy Group, which provides
electricity and natural gas to customers throughout North America, including Texas, Pennsylvania, California, and other markets
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February 26, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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