DWP makes $73.5 million transfer

A months-long dispute between the City Council and the Department of Water and Power ended Tuesday when the utility agreed to release $73.5 million that it had withheld during the battle over power rates. Daily News.

DWP Interim General Manager Austin Beutner, in an hour-long grilling by the City Council, also pledged to bring a new sense of "civil discourse" in dealing with the council and greater openness with the public.

The agency had withheld the $73.5 million from the city general fund last month after the City Council rejected a DWP electricity rate hike. The funds were the last installment of a $220million contribution that represents the utility's annual expected transfer to boost the city's general budget.