A compromise designed to preserve the Department of Water and Power's financial stability and build up a solar energy program has been reached between Mayor Antonio Villaraigosa and the City Council.
Details of the proposal will be announced at a Monday news conference, where the mayor will be joined by city officials. The proposal is presumed to have a lower rate increase for this year with plans to study future increases.
In a statement from the mayor, he said he will back the plan, which reduces the overall increase from .8 cents per kilowatt hour and places a portion of that money into a lock box to be used for future solar energy efforts. Residents have voiced outrage over the proposal raising rates initially by 6 percent in April and putting into effect other increases over the next year that would amount to 27 percent.
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