Texas REP Southwest Power & Light Says It Weathered The Winter Storm "Unscathed", Notes "Strong Liquidity"

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