Lubbock Energy Deregulation: Everything You Need to Know

Lubbock Energy Deregulation: Everything You Need to Know

Starting in January 2024 Lubbock, Texas will become a deregulated energy market. Here are all the important details you need to know to prepare for the switch.

Thad Warren By Thad Warren

In 2024, the way you've been getting your electricity is set to transform, opening doors to new choices and opportunities.

This comprehensive guide is designed to make understanding these changes easy and actionable.

What’s Changing

Starting January 5, 2024, Lubbock will become a deregulated electricity market. This means, that instead of having only one electricity provider (LP&L), you'll now have the power to choose from a range of suppliers. This shift is all about bringing competition into the market, aiming to offer better services and prices to consumers.

Key Dates: Mark Your Calendar

January 5 - February 15, 2024: Choose Your Provider

This is your golden window to shop around for electricity providers. You can use EnergyBot to compare plans and rates from providers entering the Lubbock market.

February 17 - March 3, 2024: Last Chance to Shop - Providers Assigned if You Don’t Shop

If you don't choose a provider in this period, a default one will be assigned to you, but this might come at a higher rate. It’s in your best interest to find a provider for yourself.

Customers will not have the option to stay with LP&L

March 4 - April 4, 2024: Transition Period

Your switch from Lubbock Power & Light to your new provider will happen smoothly between March 4 and April 2, 2024. You won’t lose power and after enrolling nothing else is required on your behalf. Just keep an eye out for billing information from your selected provider.

Customers will be receiving their FINAL LP&L bills - New suppliers will begin billing in April

How to Shop for Electricity Providers in Lubbock

If this is your first time buying an energy plan there are a few things you need to keep in mind.

Step 1: Research and Compare

With multiple suppliers entering the market, comparing rates, plans, and services is crucial. EnergyBot offers many free tools that help you understand and compare different offerings, making your decision-making process much easier.

Important Note: Read the EFL! The EFL (electricity facts label) is like a nutritional label for your energy plan. It will highlight the length of the contract, rate structure, monthly fees, and other important information. Learn more about EFLs here.

The entire process takes a few minutes and could potentially save hundreds of dollars on your electricity bill.

Step 2: Making Your Choice

Once you've compared the plans, it's time to choose the one that fits your needs the best. Consider factors like pricing, contract length, renewable energy options, and customer service quality.

Step 3: The Transition

After making your choice, the rest is mostly handled by your new provider. The transition from Lubbock Power & Light to your new energy provider will happen automatically based on your meter read cycle. This will be true in the future when you switch to a different provider or renew.

All Initial shopping will be considered NEW SERVICE - or MOVE IN ORDERS with suppliersWhat Stays the Same?Lubbock Power & Light isn't going anywhere. They will continue to be responsible for the physical infrastructure – that means they'll handle the poles, wires, meter readings, and respond to any emergencies or outages. The change is essentially who provides  electricity and manages your billing.

Why This Change Matters

  • Empowerment of Consumers: This shift is primarily about giving you more control over your electricity choices. More options typically mean competitive rates and better customer service.
  • Potential for Lower Costs: With competition, providers might offer lower rates or more attractive packages to stand out, leading to savings for you.
  • Renewable Energy Options: Deregulation often brings in providers who specialize in renewable energy, giving you the chance to choose greener options.
  • Customized Plans: Different providers might offer various plans (like fixed-rate, variable-rate, or time-of-use plans), giving you the flexibility to choose a plan that aligns with your usage patterns and preferences.

What to Watch Out For

While deregulation brings choices, it also brings the need for careful consideration. Pay attention to contract terms, any hidden fees, and the reputation of the provider. It's also wise to understand the difference between the rates offered and what they mean for your monthly bill.

Lubbock's shift to electricity deregulation in 2024 is a significant change, one that empowers you as a consumer. Remember these key dates and use the available tools to make an informed decision.

Frequently Asked Questions:

When will electricity choice start in Lubbock Texas?

Lubbock consumers will have the power to choose their electricity provider between January 5 and February 15, 2024 and again from Feb 17 - March 3.

Can I opt out of electricity deregulation?

No, all LP&L electric meters will shift to a competitive market in early 2024. If you don't pick an electricity supplier during the enrollment period, you'll automatically be assigned to a default provider (Octopus Energy, TXU Energy or Reliant), which typically has higher than market rates. The best thing you can do is embrace the change and shop for a new energy provider.

Is Lubbock the only city in Texas that is Deregulated?

No,  85% of Texans live in a deregulated energy market. The largest two metro areas with energy deregulation in Texas are Houston and Dallas-Fort Worth. Austin and San Antonio are examples of city’s that are not deregulated.

When do I choose my electricity provider in Lubbock?

The shopping period in Lubbock starts January 5, 2024, and runs through February 15, 2024 and again from Feb 17 - March 3 2024. If you do not enroll with an electricity provider, you will be assigned to a default retail electricity provider. Make sure you avoid being assigned a default provider with a high rate by enrolling in one of the two shopping periods.

How do I find the cheapest electricity plan in Lubbock?

Once electric choice is open, you can find the best electricity plan for your home or business by shopping online. You will see different options from dozens of providers. We make it easy to sort and filter the options based on your criteria. Once you find a plan that works for you, the switch takes 2-minutes or less to complete and is 100% online.

How do businesses shop for commercial electricity rates in Lubbock?

Like residential customers, business owners in Lubbock will have to choose their electricity supplier between January 5 and February 15, 2024. EnergyBot was built with business customers in mind. You can see rates and enroll business energy providers using our platform.

If you have any questions please contact our support team.