LOU WATERS, CNN ANCHOR: We have a developing story. The California Public Utilities Commission has reached its decision on rate increases for two of California's electrical utility suppliers. And Greg Lefevre is in Sacramento with the news. Greg, what happened?</s>GREG LEFEVRE, CNN CORRESPONDENT: Hi, Lou. The California Public Utilities Commission has imposed a 1 cent per kilowatt hour surcharge. What they've done is just added a penny per kilowatt hour to customers in Northern California and Southern California that are subscribers to Pacific Gas & Electric and Southern California Edison. The point is that what they want to do is give these utilities a little bit of relief from the extremely high costs they have encountered in buying electricity. What this means for consumers: About a 9 percent increase for folks, residential customers; 7 percent for small-business customers; 12 percent for medium, like a grocery store; and a 15 percent increase for the larger industrial customers. This is temporary. It will last about 90 days. The PUC will come back again in 90 days and hold hearings again. In the meantime, the PUC, the Public Utilities Commission, will audit the utilities to make sure that the utilities' claim of the extremely high costs are valid. So more on this story as it unfolds later today. Lou, back to you in Atlanta.</s>WATERS: OK, Greg Lefevre in Sacramento with news just breaking out of California on the rate increase for the California public utilities.
California Utilities Commission Endorses 1-Cent Per KW-Hour Surcharge