LIPA to keep rates constant through 2007
Long Island Power Authority (LIPA) Chairman Richard Kessel announced Thursday the 4 percent rate cuts that were recently enacted will remain through 2007. With a proposed $3.6 billion budget for next
•
Nov 16, 2006, 11:23 PM
•
Updated 6,507 days ago
Share:
Long Island Power Authority (LIPA) Chairman Richard Kessel announced Thursday the 4 percent rate cuts that were recently enacted will remain through 2007.
With a proposed $3.6 billion budget for next year, Kessel claims the company's current forecast should allow for the 4 percent rate reduction. Among the surprised is former LILCO executive Dr. Matthew Cordaro, who believes LIPA should be able to lower costs for homeowners further.
Kessel adds while he doesn't foresee additional rate cuts, the KeySpan-National Grid takeover could enable LIPA to do just that.
More from News 12
1:28
Caught on camera: Group of masked men in Mastic seen trying to break into multiple cars
1:27
Mostly sunny and warm week ahead for LI with temps hitting 80 by Friday
1:49
Shelter Rock Jewish Center sign vandalized in Searingtown
2:42
The Dogs of 9/11 Part 2: NYPD officers from LI and their K-9s helped bring closure to families
2:20
Woman formerly addicted to drugs credits Suffolk County Treatment Court for turning her life around
0:46
