Ratepayers could foot $401M bill for PSEG pensions
The changeover from LIPA to PSEG could cost ratepayers much more than previously thought: a staggering $401 million more.
When Gov. Andrew Cuomo brokered a deal last year to have PSEG replace National Grid as the manager of LIPA's electric grid, there was a question surrounding who would pay for the pensions of PSEG Long Island's employees. Now it looks like LIPA will have to foot the bill.