Southern California Edison (SoCalEd) has unveiled a plan to slash its electric rates 25 percent by 2000, in anticipation of increased competition. The goal is a "real" price decrease (that is, adjusted for inflation), which translates into a system average price reduction from the present 10.7 cents per kilowatt-hour to below 10 cents. SoCalEd will consider a broad range of initiatives, most of which will require the approval of the California Public Utilites Commission. Included is an immediate rate freeze for residential and small business customers through 1996. The freeze is intended to insulate those customers from the increase in average prices announced for October 1995.
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