WOODBURY - Long Island Power Authority customers can expect an increase in their electric bill this month.
The utility company says its customers will see their bills rise by 4 percent. A LIPA spokesperson says the increase in its power supply charge averages out to a hike of about $5.71 per month for ratepayers.
"Our power supply charge exceeded projections in June because of double-digit increases in the market price of natural gas and the wholesale price of purchased power in the Northeast that resulted from hotter than normal weather during the month," LIPA said in a statement.
According to the U.S. Natural Gas Price Index, the cost of natural gas has generally declined since May.
LIPA's rate increase comes just one week after Gov. Andrew Cuomo signed legislation that overhauls LIPA and sets a three-year rate freeze as one of its goals.