New bill targets LIPA rate hikes

A state official has proposed a new bill that would require the Long Island Power Authority to get approval before subjecting its customers to major

BALDWIN - A state official has proposed a new bill that would require the Long Island Power Authority to get approval before subjecting its customers to major rate hikes. The proposal by Assemblyman Robert Sweeney (D-Nassau) would force LIPA to get approval from the state's Public Service Commission for rate increases of more than 2.5 percent per year. Sweeney says LIPA currently gets away with unchecked rate increases by labeling them "surcharges." "I think we are long overdue for some sort of oversight of LIPA," he says.

LIPA counters that if it's regulated by the PSC, the utility's bond rating could be downgraded, which would cost customers even more because of increased interest rates.However, officials say that just about every utility nationwide answers to some form of outside regulation.

The discussion comes on the heels of a LIPA announcement last week that customers could face a 1.5 percent hike in 2012. Gov. Andrew Cuomo's (D-N.Y.) staff met with legislative leaders in Albany last week to discuss the bill. The governor has until the end of the year to sign or veto the bill.

advertisement | advertise on News 12

Top 5 Must See

Police are searching for the driver involved in 1 Police: Man arrested in fatal Brentwood hit-and-run
A man is in court Sunday after he 2 Police: Man steals car, crashes on Loop Parkway
Officials say a man is dead after being 3 Officials: Pedestrian fatally struck by car in Coram
Police say the victim sustained multiple lacerations and 4 Police release sketch of man found dead in Massapequa Preserve
The van was a welcome addition to the 5 Nassau firefighters group donates van for disabled vets

advertisement | advertise on News 12

Features

Each week, News 12's Doug Geed explores the Check out fun things to do on the East End!

Explore the Twin Forks with News 12's Doug Geed.

Each week a different shelter visits News 12 Dog Day Fridays Series

Each week a different shelter visits News 12 Long Island with pets up for adoption.

News 12 digs deep to find Long Island's Discover Long Island's Hidden Past

News 12's Danielle Campbell digs into Long Island's roots.

News 12's Lily Stolzberg sees how much Long On The Spot

News 12's Lily Stolzberg sees how much Long Islanders know about everything and anything.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE