Jul 18, 2011
The Los Angeles Department of Water and Power (DWP) wants to increase electricity and water rates by about five% a year for each of the next three years. Last year, the DWP hiked rates by 5%, also.
The DWP is a city agency, a very, very rich city agency. Last year, the DWP turned over to the city 260 million dollars, or eight% of all the money DWP took in.
Obviously, annual rate hikes will provide even bigger surpluses every year, money that the politicians can use to boost the profits of big business.
These annual rate hikes are simply another disguised tax increase on ordinary working people to further enrich the wealthy and big business, who drain our tax money out of the city budget.