New energy efficiency standards for electric generating companies have been adopted by the Public Utility Commission (PUC). Under the rules, generating companies would reduce the rate of demand for power from 20 percent of projected annual growth rate by the end of this year and for 2011. The target would will then increase to 25 percent in 2012 and then move to 30 percent in 2013.
The rate cap for residential users for 2011 and 2012 as a result of these goals would be the higher of either $1.30 per month or a formula based on an increase of $0.0001 per kilowatt hour of usage. The cap would jump to $1.60 a month in 2013, or a formula based on $0.00012 per kilowatt hour, whichever is higher.
Cost caps for commercial users would be set at $0.0005 per kilowatt hour in 2011 and 2012 and then to $0.00075 in 2013.
