Rate Tracker: DWP board approves power rate hike to raise $720 million

Via LA Times

The board that oversees the Los Angeles Department of Water and Power approved a plan Tuesday to increase power rates in a move it said was necessary to meet a slew of energy-related mandates and repair the city's degrading power infrastructure.

If approved by the City Council, the rate hike would result in a systemwide 3.86% average annual rate increase and generate about $720 million over the next five years, DWP said.

Agency officials say typical residential customers would see a smaller change — a 1.56% average year-over-year increase to their monthly power bills.

But the city's ratepayer advocate said monthly bills for many of those customers would jump about $4 in the first year; the five-year cumulative total increase would be about $12.

The board's 5-0 vote supporting the power rate increase came about a month after it endorsed a similar water rate hike.

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