Thursday, August 17, 2006

No LNG, Higher rates for L.A.

As supplies struggle to meet demand in California's natural gas markets, the City of Los Angeles has decided to pass the costs on to consumers.

The Los Angeles City Council unanimously approved electric rate increases Wednesday to help the Department of Water and Power cover the rising cost of natural gas.

The rate hikes are set to begin in October. The average DWP residential customer whose electric bill is now $606 annually could potentially see that rise incrementally to $680 by 2010.