Lubbock Residents Face Daunting Task of Navigating New Electricity Market
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Lubbock recently opened its electric market after being serviced by a single municipal provider for years. Residents hoped for cheaper rates but the process of choosing among 30+ providers is daunting.
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Lubbock joined the ERCOT grid in 2021 to eliminate the need to build a costly new power plant. This enabled a competitive retail electric market in Lubbock.
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The average Texas electricity rate is around 15 cents/kWh. Lubbock's municipal rate was similar but fluctuated. Some enticing plans may cost more long-term.
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45% of Lubbock customers have chosen a retail provider ahead of a Thursday deadline. Remaining customers will be randomly assigned a provider at market rates.
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Lubbock resident Chuck Greenslade tried to lower his bills before the market opened. He is considering plans with free overnight electricity to save money.