PSEG LI may file to receive over $3M in bonus compensation despite criticized Isaias response

Of the $10 million in bonus pay available, PSEG said it paid out approximately $6.4 million to more than 35,000 customers in reimbursements who were affected. The utility would have to file with LIPA and the state to receive the remaining $3.6 million.

News 12 Staff

Jan 8, 2021, 3:26 AM

Updated 1,468 days ago

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Despite a widely criticized response to Tropical Storm Isaias, PSEG Long Island might be seeking more than $3 million in bonus pay for 2020.
PSEG LI may file for a total of $3.6 million in bonus compensation. LIPA trustee Matthew Cordaro reacted strongly, saying he was speaking only for himself and not for the LIPA board.
"They're obviously living in a wonderland, PSEG," says Cordaro. "They still screwed up in many, many ways, their speed of answering calls, their complaint rates went up. It's hard to believe that someone deserves a bonus."
Of the $10 million in bonus pay available, PSEG said it paid out approximately $6.4 million to more than 35,000 customers in reimbursements who were affected. The utility would have to file with LIPA and the state to receive the remaining $3.6 million.
When asked if it plans to file, their answer was, "That has not yet been determined. PSEG Long Island's Incentive Compensation is not guaranteed, and value is based on achieving negotiated and mutually agreed performance targets for OSA metrics. The 2020 year-end scorecard is not complete."
And even if PSEG Long Island does ask for it, that does not mean it will receive it.
PSEG Long Island has 90 days from the end of the year to submit its scorecard and invoice.