Tradition Energy announces it was recently awarded an Energy Advisory and Procurement Services contract through a competitive process conducted by the Texas Tech University System (TTU System), headquartered in Lubbock, Texas. Contracted services are related to the procurement of electricity and natural gas for the TTU System’s component institutions and assisting the TTU System on its exciting entry into the ERCOT (Electric Reliability Council of Texas) competitive market.
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Lubbock Power & Light (LP&L), the local utility company serving the TTU System and its institutions, has been working to make infrastructure updates to connect with the ERCOT system since March 2018. In May of last year, LP&L successfully connected 70% of its system (approximately 83,000 customers) to the ERCOT grid. 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 transition by LP&L puts the TTU System on a positive path forward by opening the door to retail electric competition.
Established in 1996, the TTU System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso, and Midwestern State University.
The TTU System is a $2.5 billion enterprise focused on advancing higher education, health care, research, and outreach with approximately 21,000 employees, more than 63,000 students, nearly 370,000 alumni, and an endowment valued at more than $1.6 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 24 academic locations in 21 cities (19 in Texas, 2 international).
“The Texas Tech University System looks forward to working with Tradition Energy as we navigate the future of energy within the Texas Tech University System,” said Gary Barnes, vice chancellor, and chief financial officer of the TTU System.
“We are honored to receive this award from the TTU System,” said Alan Kurzer, CEO, Tradition Energy. “The Tradition team is very excited to share its ERCOT energy market expertise and introduce the TTU System to the numerous opportunities a competitive market presents.”
About Tradition Energy
Tradition Energy is the nation’s largest and most experienced independent energy risk management and procurement advisor, serving more than 1,300 commercial, industrial and governmental clients ranging from Fortune 500 global companies to medium-sized businesses to local municipalities. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,300 people in 29 countries around the world and is publicly listed on the Swiss stock exchange (CFT)