Tradition Will Assist The City With Its Historic Transition To ERCOT and Electricity Deregulation

Stamford, Connecticut, May 10, 2023 – Tradition Energy announces it was recently awarded a Professional Services Agreement through a competitive RFP process conducted by the City of Lubbock, the tenth-largest City in Texas.

The contracted Energy Consulting and Management Services are related to procuring electricity for the City and assisting it with its exciting entry into ERCOT (Electric Reliability Council of Texas) and the deregulated electricity market in the coming months.

Downtown Lubbock, Texas

Lubbock Power & Light (LP&L), the local utility company serving the City of Lubbock, has been working to make infrastructure updates to connect with the ERCOT system since March 2018. In May of 2021, LP&L successfully connected 70% of its system (approximately 83,000 customers) to the ERCOT grid, and the city council later confirmed the vote for deregulation in 2022. This interconnection with ERCOT is the first in Lubbock’s history and the first for any regulated municipality in the state in 25 years to move toward deregulation.

The City of Lubbock joins Lubbock County, Texas Tech University, University Medical Center, and others who have selected Tradition Energy as their advisor on procurement strategy and process as they transition to the deregulated ERCOT market.

“The City of Lubbock looks forward to working with Tradition Energy as we navigate our historical transition to the competitive markets and join other Texas cities participating in energy deregulation,” said Tray Payne, Mayor of the City of Lubbock.

“Their deep experience with Texas local government clients, ERCOT market expertise, client support, and team structure were critical factors in the City’s decision to award to Tradition,” said Jarrett Atkinson, City Manager of the City of Lubbock.

“We are honored to receive this award from the City of Lubbock,” said Alan Kurzer, CEO of Tradition Energy. “The Tradition team is very excited to share its ERCOT energy market expertise and introduce the City to the opportunities a competitive market presents.”

Contact

G. Scott Merrell, Executive Director, 713-609-9922 Scott.Merrell@TraditionEnergy.com

About Tradition Energy

Tradition Energy is the nation’s largest independent energy procurement and sustainability solutions advisor. Clients partner with us to manage their energy expenditures, implement renewable energy solutions, and develop integrated sustainability strategies to reduce their carbon footprint. Tradition Energy is part of the Tradition Group, ranked amongst the top 3 worldwide in financial products and commodities with over 2,400 employees in 30 countries. www.TraditionEnergy.com