LIPA to zap 4.3% off customers' bills next month

Customers of the Long Island Power Authority (LIPA) may be shocked when they open their bills next month: their rates are about to go down.

SYOSSET - Customers of the Long Island Power Authority (LIPA) may be shocked when they open their bills next month: their rates are about to go down. The utility announced today that it's cutting rates by 4.3 percent due to the mild winter and low natural gas prices. It's the lowest rate for LIPA customers in seven years. The savings will amount to about $6.59 for the average homeowner and $85 for the average business. Some critics and wary homeowners are mistrusting about the cuts, saying they will expect a rate hike somewhere down the line.

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