DWP Customers Enjoy Stable Electricity Rates, Ample Power Through Cold Weather Snap.

Business & News Editors

LOS ANGELES--(BUSINESS WIRE)--Nov. 16, 2000

Despite natural gas price spikes nationwide and threats of electric power shortfalls in California this week, customers of the Los Angeles Department of Water and Power are enjoying stable electricity prices and a plentiful supply heading into the cool winter season.

DWP General Manager S. David Freeman said today that alerts of shortfalls in the remainder of California do not apply to the city of Los Angeles.

Moreover, Freeman reminded DWP customers that electricity rates are stable, with a 5 percent rate reduction being planned for about a year from now, despite greater costs to produce electricity at gas-fired power plants.

"As newspaper reports detail the rise in natural gas prices and other utilities seek permission to pass along rising costs to customers, the DWP is in good shape -- to the benefit of our customers," said Freeman. "Our rates are firm and our electricity supplies plentiful.

"At the same time, conservation is always a responsible choice for consumers who wish to save money," Freeman said. "In this instance, conservation also benefits other parts of California and other states that can utilize our power surplus."

Note to Editors: DWP General Manager S. David Freeman is available today to answer questions about the DWP, electricity prices and conservation approaches during the winter season.