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05-29-2008, 01:18 PM
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LIPA working to avoid rate hike
BY MARK HARRINGTON | mark.harrington@newsday.com
12:42 PM EDT, May 29, 2008
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Digg Del.icio.us Facebook Fark Google Newsvine Reddit Yahoo Print Reprints Post comment Text size: The Long Island Power Authority is proposing to use $130 million from funds it recved from its approval of the KeySpan-National Grid merger to help mitigate a possible fuel-based bill hike over the next 30 months.
The proposal doesn't guarantee LIPA won't raise bills anytime soon, however. LIPA chief executive Kevin Law said he's monitoring costs daily but still hasn't determined whether an increase will be needed.
"We're doing everything we can to avoid" a rate increase, he said. LIPA will also propose next month a $10-million fund to help low-income seniors pay thr electric bills.
The proposals, detailed at a LIPA trustees meeting today, will be voted on next month.
Very high salaries at LIPA including double-dippers like Dejesu.,
LIPA spokesman Ed Dumas said LIPA is facing $2 million to $3 million a day in additional costs tied to rising fuel prices.
He said if approved the fuel mitigation fund would begin to accrue on ratepayer bills starting in June, but not show as an actual credit until January.
More articles
LIPA working to avoid rate hike
BY MARK HARRINGTON | mark.harrington@newsday.com
12:42 PM EDT, May 29, 2008
Article tools
E-mail Share
Digg Del.icio.us Facebook Fark Google Newsvine Reddit Yahoo Print Reprints Post comment Text size: The Long Island Power Authority is proposing to use $130 million from funds it recved from its approval of the KeySpan-National Grid merger to help mitigate a possible fuel-based bill hike over the next 30 months.
The proposal doesn't guarantee LIPA won't raise bills anytime soon, however. LIPA chief executive Kevin Law said he's monitoring costs daily but still hasn't determined whether an increase will be needed.
"We're doing everything we can to avoid" a rate increase, he said. LIPA will also propose next month a $10-million fund to help low-income seniors pay thr electric bills.
The proposals, detailed at a LIPA trustees meeting today, will be voted on next month.
Very high salaries at LIPA including double-dippers like Dejesu.,
LIPA spokesman Ed Dumas said LIPA is facing $2 million to $3 million a day in additional costs tied to rising fuel prices.
He said if approved the fuel mitigation fund would begin to accrue on ratepayer bills starting in June, but not show as an actual credit until January.
More articles