Statement by Richard M. Kessel
Chairman, Long Island Power Authority
LIPA intends to seek a full review of all of its rates,
charges and surcharges – in particular its fuel surcharge and
tax surcharges to which it makes payments to Nassau and Suffolk
Counties, municipalities and school districts – before the
Public Service Commission and/or an appropriate regulatory body
within the next 60 days.
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LIPA Chairman Richard Kessel says
that LIPA has over the years absorbed over $800 million in
fuel costs rather then pass them along to ratepayers. In
addition, he pointed out how much Fuel Costs have grown as a
percentage of LIPA's budget over the last 8 years.
