State panel revises PSEG LI rate hike recommendation
The state Department of Public Service revised how much PSEG Long Island should cut from the proposed three-year rate hike during a meeting Monday.
Previously, the department recommended that LIPA and PSEG cut their original rate request by 72 percent. The new numbers show a much smaller decrease of just 37 percent, suggesting customers could be paying closer to the 4 percent rate hike that the utility was originally proposing.
LIPA Trustee Matthew Cordaro told News 12 that he believes the department "may have exercised some inappropriate judgments" which led to the numbers being reformulated.
The results of Monday's rate hearing will not be released until the end of September. Cordaro says more changes may take place.
"Only till that's over and the dust is cleared will the LIPA board have to confront this and make a final determination on what the final rates will actually be," he told News 12.
A final decision from the LIPA board is expected at the end of the year.