Los Angeles Mayor Antonio Villaraigosa endorsed a 22% electricity rate hike for Los Angeles Department of Water and Power customers to fund the city’s migration from coal to renewable energy.

Once fully implemented, the rate hikes would cost local businesses and residents $648 million a year, according to the Los Angeles Times.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.