LIPA purchase of KeySpan generating plants may cause price hike
The cost of LIPAs plan to purchase KeySpan generating plants may be passed on to the consumer, a Suffolk County special commission discovered.
Suffolk County Executive Steve Levy formed the commission to look into LIPAs proposal. The commission found that the final purchase price, to be determined by an arbitrator, will be the deciding factor in how the move will affect consumer costs.
LIPA is looking to pay about a billion dollars, but KeySpan says the plants are worth $2 billion. The LIPA board is expected to make a decision on the purchase December 15.
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