LOS ANGELES, CA — Last Thursday, the Los Angeles Area Chamber of Commerce’s executive committee voted to support the Los Angeles Department of Water and Power’s (LADWP) five-year rate increases. The expenditure plan, as laid out by the LADWP and confirmed in reports by the Rate Payer Advocate, meets the priorities the Chamber board of directors had set as vital to their support. Those priorities are that new revenue go specifically towards replacing the City’s aging power and water infrastructure, diversifying water and power supplies, improving customer service, and maintaining competitive rates with other utilities.
“The Chamber strongly believes every dollar of the rate increases should go towards desperately needed infrastructure improvements and not be subject to transfer to the City’s general fund. The L.A. City Council should waive the current 8 percent power revenue transfer to the City for the new rate increases,” said Chamber President & CEO Gary Toebben.
The Chamber believes doing so would be a powerful statement to L.A. residents and the business community that the City’s elected officials are truly committed to accelerating the upgrades to utilities and diversifying water and power supplies.
“The business community knows that improvements to and maintenance of utility infrastructure is key to the health of our economy. Both the water and power proposals from the LADWP are fiscally responsible and accountable to the needs of the utility,” Toebben added.
The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.