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 |