LADWP to Increase Electricity Rates 9-28% Over the Next 4 Years
The Los Angeles Department of Water and Power just unveiled a plan to increase electricity rates by 37% over the next 4 years. This increase is partially due to Mayor Antonio Villaraigosa's carbon surcharge, which is aimed to help increase the renewable energy used by the City to 20% by the end of 2010. California's Global Warming Solutions Act of 2006 requires a statewide 25% decrease in greenhouse gas emissions by 2020 and 80% by 2050. The mayor is proactively working towards this goal, which will become actively enforced by the State in 2012.
This rate hike will also help keep LADWP's bond rating from declining, especially with the large sums of money they plan on borrowing in May of this year.
The plan, which is waiting approval of the City council, is endorsed by former Vice President Al Gore.
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Comments:
To update our infrastructure for a better future, costs will always be involved, and therefore there will always be opposition. In combination with a general trend of increasing energy prices, it makes sense to shield yourself from these increasingly frequent rate hikes, by having a solar power system installed at your home or business.
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