31. Electricity rates, meanwhile, are expected to remain frozen until early next year under legislation that deregulated the industry. 32. Energy Secretary Francisco Viray said retail electricity rates are among the highest in Asia, in part because the lack of competition provides little incentive for efficiency. 33. Feinstein also filed a brief Tuesday supporting a federal lawsuit seeking to force the FERC to regulate wholesale electricity rates in California. 34. Federal energy authorities said they are looking into how wholesale electricity rates are set and whether power generators are manipulating prices. 35. For most California energy users, electricity rates are now frozen to stabilize the market as part of recent deregulation of the industry. 36. For today, the recent drop in interest rates was enough to outweigh concern over electricity rates, Pena y Lillo said. 37. For today, the drop in interest rates was enough to outweigh concern over electricity rates, Pena y Lillo said. 38. He acknowledged the increases in sales tax, fuel costs and electricity rates are the most painful. 39. HEARINGS ON CALIFORNIA POWER RATES The California Public Utilities Commission began two days of emergency hearings on whether to raise electricity rates. 40. Higher electricity rates are almost certain as well. |