Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Paul Ridzon - Keybanc Capital Markets.
Paul Ridzon - Keybanc Capital Markets
One thing that we have seen is that large reductions in C&I tend to have a smaller-than-expected earnings impact because a lot of the revenues are structured more as capacity reservation. Are you less than others in that regard? I was surprised by the $0.08 degradation of earnings.
Jim Hatfield
Well, if you look at where we've had our reduction, it's really been manufacturing, 17%, warehouse, about 10%, and really retail and office and that category. In terms of contribution we saw, like I said, over 80% of that sales reduction in the C&I.
So in terms of the $0.08 degradation relative to C&I, I'm not sure the rate designs of others but our rate design is structured so that we're trying to levelize those more across the board with residential.
Don, do you have anything specific on rate design you want to add to that?
Don Brandt
I don't.
Paul Ridzon - Keybanc Capital Markets
How hot has July been?
Jim Hatfield
Well, we had the hottest July on record. We had several days in July where the average temperature was 100, so just from a relative basis, significantly above normal. I don't have degree days in front of me, Paul, but the fact that it was the hottest on record I think gives the magnitude of the heat in July. And August is sort of starting off the same as July ended up, at least through the first four or five days.
Paul Ridzon - Keybanc Capital Markets
So that should be a nice tailwind.
Jim Hatfield
Well, we're hoping.
Paul Ridzon - Keybanc Capital Markets
And then just lastly just an update on potential tapping the equity markets. Is that still a '10 event?
Jim Hatfield
Correct, no change in terms of equity plans at this point.
Operator
Your next question comes from Greg Gordon - Morgan Stanley.
Greg Gordon - Morgan Stanley
So the degradation you saw in sales, that might have been partly from weak weather in the second quarter. Would it be fair to say that the four or five weeks you've had in July and August have sort of put you back on track?
Jim Hatfield
Yes, just a couple things. You know, I talked about this at length in the first quarter, you know, the role of weather and what's usage. I can tell you that even through sort of normal weather residential sales were down 3% and humidity was 10% below normal. What's that do vis-à-vis normal? I'm not sure. But certainly July, we feel good about the 230 and about sales and don't think that anything so far is off track to achieve our numbers.
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