SAN FRANCISCO – The Los Angeles City Council unexpectedly shot down Mayor Antonio Villaraigosa’s plan to raise electricity prices to fund city electric utility’s transition to renewable energy late Friday.

The Los Angeles Department of Water and Power, the nation’s largest municipal utility, hopes to raise rates by 22% over the next year and by more than 37% by 2012, but the council voted to reject the increases after The Bond Buyer’s deadline Friday.

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