First of Four Electricity Rate Hikes for 2010 Approved
Your LADWP electricity bill will likely be increasing April 1st to help the nation's largest municipal utility cover its bills and build its renewable energy portfolio, thanks to a unanimous vote yesterday by its board. The vote affirms a 0.8 of a cent per kilowatt hour increase that can only be denied by the Los Angeles City Council if it chooses to--and it will--assert jurisdiction over the manner (note that the council only has power to deny board moves, but not the ability to tweak language or rates).
At issue is the department's bond rating as a downgrade could cost the utility even more. Also, by not hitting 33% renewable energy by 2020, LADWP would face fines. Mayor Antonio Villaraigosa wants to be at 40% by that year.