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Consumers will have to settle for a single power provider at higher prices. Rates are nearly 150 percent higher than last spring. Power companies are exploiting the market for their own advantage. Some companies have jacked rates up to 200 percent than offer a deal at a 50 percent hike. Utility companies promised to modernize the electricity market and reduce business and residential bills. The California public utilities commission is caving in to pressure to make the investor owned utilities look good on Wall Street. Utilities are to use their markups to pay investors for stranded assets incurred during regulation...
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Common topics in this essay:
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