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Lubbock Power & Light presents budget; ERCOT TCOS revenue and 'hold harmless' credit shape reserves
Summary
Harvey Hall, chief financial officer for Lubbock Power & Light, gave the utility's budget presentation, focusing on revenues, reserves and capital priorities.
Harvey Hall, chief financial officer for Lubbock Power & Light, gave the utility's budget presentation, focusing on revenues, reserves and capital priorities. Hall said LP&L expects total expenses to fall modestly from about $185 million in the prior year to roughly $179 million in the proposed budget.
The nut graf: LP&L’s revenue and reserve picture is heavily affected by transmission-related fees and a multi-year ERCOT-related ‘‘hold harmless’’ arrangement; a favorable Public Utility Commission decision increased the utility’s allowed TCOS revenue and the scheduled end of the hold-harmless credit in February 2027 will free about $22 million per year for local ratepayer benefit.
Hall told council a key one-time driver in the…
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