LP&L Loses Money on Southeast Lubbock Power Plant

Published 07/16 2014 05:56PM

Updated 07/16 2014 10:22PM

By Joshua Cole Little

LUBBOCK, TX--- A member of the Lubbock Power and Light Electric Utility Board said LP&L is losing millions of dollars on one of its power plants. 

The Electric Utility Board will meet Thursday at 1:00 pm to discuss many items including one to bring in outside legal council to look at contracts between LP&L and XCEL Energy.  Specifically one area of concern is Xcel's use of the Cooke Power Plant in Southeast Lubbock. 

"What matters is the fact that we're trying to lose less money on our power production," says Charles Dunn, EUB member. "How sad is that? It's not about 'does our power production supplement and reduce the cost of electricity to the tax payers?' It doesn't."

"We will lose money if we continue to sell the power to XCEL from the Cooke unit and we'll also lose money even if we shut down the Cooke unit," says Dunn. 

Dunn says LP&L is losing millions of dollars with the current agreement set to last through 2019. XCEL Energy chose to end their contracts using the Massingale Power Plant this year. 

Now LP&L is trying to decide whether to shut the Cooke plant down if its legally possible or leave the contract as is. 

"My thought is we need to talk to an expert in this area, who deals with utility contracts and the municipal utilities and private utilities as to what our options are regarding that contract," says Dunn.  

Dunn says they're trying to do what's best for the power company as well as the tax payers of Lubbock. 

The Electric Utility Board will meet at 1301 Broadway and it is open to the public. 

Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.