Legislation Would Require LIPA to Obtain PSC Approval Before Raising Rates
Senator Charles J. Fuschillo, Jr. (R-Merrick) today announced that the Senate Energy Committee approved legislation he cosponsored requiring LIPA to get approval from the New York State Public Service Commission (PSC) before raising its rates.
“LIPA customers pay some of the highest utility bills in the country. Increasing oversight of LIPA and requiring potential rate increases to be thoroughly reviewed and approved by the PSC will go a long way towards protecting LIPA customers. Now that this measure has been approved by the Senate Energy Committee, I am hopeful it will soon be passed by the full Senate,” said Senator Fuschillo, a member of the Senate’s Energy Committee.
Under the legislation (S2581), LIPA would need to obtain approval from the PSC before raising rates more than 2.5 percent in a twelve month period. A full evidentiary hearing would have to be conducted by the PSC before it could rule on any rate increase request.
Senator Fuschillo has long been advocating for greater oversight of LIPA’s rate increase practices.