Good bye Xcel Energy (at least in Lubbock) and good bye competition! Today Lubbock announced it was spending $87 million dollars to buy out the Lubbock customer base of Xcel Energy. According to the city, this is great for downtown redevelopment. OK, great.
Mayor Tom Martin was quick to say at the presser that your rates won’t change because of this. Really? Does anyone buy this? LP&L has no competition in Lubbock (for the most part) and we shouldn’t expect rates to change? We shouldn’t expect customer service to change?
I’m sorry but the only people who will benefit from this buy out are the people in charge at City Hall. And how about the timing? The city keeps this whole thing quiet until after the bond election.
So, what do you think?
More on Thursday’s LFN.
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