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California PUC Approves Plan For Electricity Rate Hike

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The California Public Utilities Commission has approved a plan to allocate a record electric rate

The plan submitted by PUC president Loretta Lynch by a narrow margin following a week of lobbying by industrial, commercial, agricultural
groups and those representing residential ratepayers.

Under the plan, California residential ratepayers will pay nearly 50 percent more for electricity.
The hikes will appear on June bills and they´ll be retroactive to March 27th when the record rate hikes were approved.