LIPA approves plan to hike bills to recoup Sandy expenses
WOODBURY - LIPA officials have unanimously voted to increase ratepayers' bills to help recover Sandy expenses.
LIPA approved a plan to collect $80 million in storm costs over 10 years, starting next year.
For customers, this means their bills will go up approximately 30 cents a month.
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According to officials, the hope is that collecting the unreimbursed costs from customers will help the utility keep a strong credit rating.
LIPA is counting on FEMA to pick up 90 percent of their $806 million tab from the storm.