PSEG LI misses revenue mark, adds new charge

News 12 Long Island has learned sales fell below expectations, so an extra "revenue decoupling adjustment" charge is needed.

PSEG is telling its customers they will have to pay an additional charge in their bill next month, despite the mild weather in December and January.

PSEG is telling its customers they will have to pay an additional charge in their bill next month, despite the mild weather in December and January. (2/11/16)

NEW HYDE PARK - PSEG Long Island has added a new charge after the utility did not meet revenue goals from April to December in 2015 due to lower energy usage.

LIPA is enacting a "revenue decoupling adjustment," which will raise residential bills $1.69 on average next month. PSEG Long Island blames lower energy use and an exceptionally warm December that kept demand below expectations. The utility came up $18 million short of expectations.

"What this revenue decoupling mechanism does is allow us to collect the charges to allow us to keep the lights on for customers," says Jeffery Weir, of PSEG LI.

Weir says reverse revenue decoupling gives money back to customers when revenues come in over what is projected.

"It goes both ways," says Weir.

LIPA critic Sheldon Sackstein says Long Islanders will keep seeing increases unless the way LIPA is organized is changed.

"The ratepayers need to now recognize that they now have to step forward. They have to call their legislators," says Sackstein.

The fee is expected to show up on customers' March bill.

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