LIPA to announce 3 percent rate decrease

The Long Island Power Authority has told News 12 rates will decrease by 3 percent overall.

According to LIPA, President and CEO Kevin Law will announce the rate decrease at a board meeting today at 11 a.m. The monthly savings will add up to about $4.70 overall for the average residential customer.

LIPA says fuel costs were lower than expected, which will allow them to decrease rates.

The rate drop will take effect June 1, according to LIPA.

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