LIPA and PSEG LI say no rate hike for 2014
UNIONDALE - The Long Island Power Authority (LIPA) released the 2014 Operating and 2014-2015 Capital budget that freezes non-fuel related rates for a second straight year.
The proposed budget freezes delivery rates for 2014 and is consistent with the goal articulated in the development of the LIPA Reform Act which includes the transition of PSEG to assume control of the Long Island electric grid beginning January 1, 2014. It also balances strong fiscal responsibility and cost controls and includes the objective of making investments and committing resources to effectuate service improvements, including emergency preparedness and enhanced responsiveness, increased customer satisfaction and strengthening of the electric grid. These goals have been largely achieved through a collaborative effort between LIPA, the federal government and New York State.
"LIPA is pleased that the proposed budget maintains delivery rates at present levels while establishing operating and capital budgets that are expected to be adequate to allow PSEG to begin to carry out its vital mission of improved utility service and responsiveness, with the goal of achieving improved levels of customer satisfaction," said LIPA COO John McMahon. "Our ability to maintain current delivery rate levels reflects budget discipline as well as the benefit of significant financial assistance from New York State and Federal grants that will support PSEG’s efforts to modernize the utility's systems and improve its ability to respond to customers during storms, and communicate with customers seeking assistance from the utility on a day-in, day-out basis. New York State continues to be instrumental in securing assistance from the Federal government's disaster recovery programs."
“We look forward to serving the people of Long Island in 2014,” said Dave Daly, president and COO of PSEG’s Long Island subsidiary. “This budget will finance the complete timeline of activities we have scheduled in the coming year focused on customer satisfaction, ensuring reliability and improving the storm process.”
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