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
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Nov 16, 2006, 11:23 PM
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Updated 6,634 days ago
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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.
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