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AI# 10873
Regular City Council Meeting
7.4.
08/09/2022:
Information
Agenda Item
Resolution - Lubbock Power & Light:
Consider a resolution authorizing the Mayor of the City of Lubbock to execute and submit to the Electric Reliability Council of Texas (“ERCOT”) that certain Lubbock Power & Light Notice of Intent to Opt into Retail Competition, as required by ERCOT’s Opt-in Checklist, and as attached to the resolution.
Item Summary
The Electric Reliability Council of Texas ("ERCOT") requires a minimum of twelve (12) months notice prior to opting into retail competition. This resolution approves the notice of opt-in by Lubbock Power & Light to ERCOT, subject to the City Council and the Electric Utility Board establishing the date certain for opting into retail competition at a later date.
Fiscal Impact
From the perspective of LP&L, joining the retail market will result in LP&L becoming a Transmission and Distribution Service Provider, without an ongoing power supply responsibility. This change significantly reduces operational and financial risk for LP&L, and allows the utility to focus on electric system reliability and transmission and distribution system improvement.
Staff/Board Recommending
Harvey Hall, Chief Financial Officer
Electric Utility Board
Attachments
CC Resolution
EUB Resolution
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