Lubbock Power & Light Provides Anticipated Retail Choice Start Date IF FERC Settlement Reached By Year-End (Status Update Of FERC Process)

August 4, 2023

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Lubbock Power & Light provided a status update on its pending transition to retail electric choice, which has been delayed by FERC review of the May 27, 2021 agreement between LP&L and Southwestern Public Service Company (SPS).

See background on the issue here

LP&L said, "The parties to the FERC proceeding have been participating in settlement discussions under the direction of the FERC settlement judge. Those discussions have been productive, and the most recently scheduled settlement conference was cancelled to allow the parties to attempt to finalize proposed terms that are being negotiated. If this work continues to be productive, the resulting settlement would be submitted to the settlement judge and subsequently presented to the FERC Commissioners for consideration and approval by the end of the calendar year."

LP&L said, "In anticipation of that outcome, LP&L has continued its work with ERCOT and Market Participants to prepare for the integration of the remaining load into ERCOT and the subsequent transition to retail competition."

"LP&L anticipates that the integration and transition can occur in the first quarter of 2024 if a settlement is reached and all required regulatory approvals are obtained by the end of the calendar year," LP&L said

LP&L said earlier this year that, if a settlement of the FERC issue is not reached and a hearing is required at FERC, the delay in the transition to retail choice may be a "multi-year" process

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