(10/16/06) WOODBURY ? Residents will see a drop in their electricity bills this week as the Long Island Power Authority (LIPA) lowers rates.

For every 775 kilowatt hours, LIPA is lowering consumers? costs by $6.20. LIPA officials announced the cuts in September based on lower natural gas and oil costs. Some residents expressed relief at the announcement. Others, such as retirees on a fixed income, say a $6.20 break does nothing for them.

LIPA?s rate cuts have residents wondering why KeySpan, the natural gas heat provider to Long Island homes, has yet to make any price changes. KeySpan says it stocked up on natural gas last winter, so the current market fluctuations will not affect homeowners until the gas purchased at last year?s prices is used.