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Wow--no additional power rates hikes--till the end of the year.
"The top executive at the Los Angeles Department of Water and Power is laying the groundwork for a sale of some of the agency's biggest assets including the utility's iconic downtown Los Angeles headquarters as it seeks to cover rising costs without raising electricity rates.
DWP Interim General Manager Austin Beutner said Monday that he would not pursue any additional power rate increases for the remainder of the calendar year. But that decision would come with a series of tradeoffs, he said."
How incompetent is the leadership of the DWP? "The DWP is already scheduled to divest itself of a 21% stake in the Navajo Generating Station, a coal-fired power facility in Arizona, by 2019. But Beutner said he would act far more swiftly to sell that stake, a move that could generate up to $500 million.
One possibility would be to sell the stake within two years while gradually scaling back the city's use of coal from that facility, he said.
That strategy drew strong praise from Rhonda Mills, Southern California program director of the Clean Power Campaign, an environmental advocacy group. Mills said the Navajo plant would lose value as new environmental regulations are put into effect across the nation."
Yes, they will generate $500 million. But, they have zero replacement energy pipeline. They are going to LIMIT the supply of energy--in what they claim will be growing economy. Without energy, the economy will not grow. The cost of available energy will rise--and jobs will be lost.
DWP has a plan to kill the Los Angeles basin economy--what else would you expect from a Central Planned Economy? Think the Soviet Union or Cuba.
More...
"The top executive at the Los Angeles Department of Water and Power is laying the groundwork for a sale of some of the agency's biggest assets including the utility's iconic downtown Los Angeles headquarters as it seeks to cover rising costs without raising electricity rates.
DWP Interim General Manager Austin Beutner said Monday that he would not pursue any additional power rate increases for the remainder of the calendar year. But that decision would come with a series of tradeoffs, he said."
How incompetent is the leadership of the DWP? "The DWP is already scheduled to divest itself of a 21% stake in the Navajo Generating Station, a coal-fired power facility in Arizona, by 2019. But Beutner said he would act far more swiftly to sell that stake, a move that could generate up to $500 million.
One possibility would be to sell the stake within two years while gradually scaling back the city's use of coal from that facility, he said.
That strategy drew strong praise from Rhonda Mills, Southern California program director of the Clean Power Campaign, an environmental advocacy group. Mills said the Navajo plant would lose value as new environmental regulations are put into effect across the nation."
Yes, they will generate $500 million. But, they have zero replacement energy pipeline. They are going to LIMIT the supply of energy--in what they claim will be growing economy. Without energy, the economy will not grow. The cost of available energy will rise--and jobs will be lost.
DWP has a plan to kill the Los Angeles basin economy--what else would you expect from a Central Planned Economy? Think the Soviet Union or Cuba.
More...