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Davis Says No More Electric Rate Hikes

Governor Gray Davis´ office says we shouldn´t see any power rate hikes in the immediate future because
spot market prices for electricity have dropped in the last two months.

In May — the state was spending close to 100 million dollars a day for power.
This past week that figure stood at 30 (M) million or less per day.

So far this month, California has paid an average of 82-dollars per megawatt hour
compared to an average of 271-dollars in May.