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Council hears DWP plan to prepay Intermountain Power Project debt
Summary
The Department of Water & Power described a voluntary prepayment plan to address roughly $4.4 billion of Intermountain Power Project debt (DWP share about $2.97 billion); staff said prepayment would come from operating cash and could enable future rate reductions. Council approved the related item on the agenda.
Department of Water and Power officials briefed the Los Angeles City Council on a plan to prepay a portion of the stranded debt related to the Intermountain Power Project, a 1,600‑megawatt coal-fired plant serving several Southern California cities.
Bob Rozanski, assistant chief financial officer for DWP, told the council that participants in the project remain obligated to take the plant’s…
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