NY state comptroller says Long Island Power Authority still plagued by high rates, rising debt

Associated Press

New York's state comptroller says more oversight is needed of Long Island Power Authority, whose customers remain plagued by high electricity rates and rising debt despite reform efforts.

The comptroller's office says despite the 2013 law meant to stabilize rates, improve service and increase accountability, longstanding issues remain and increasing debt will burden customers for years.

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That law enacted Gov. Andrew Cuomo's plan to shrink LIPA's staff and turn over daily operations to Public Service Electric & Gas Co.

LIPA has been contracting with National Grid for daily operations.

Comptroller Thomas DiNapoli proposes strengthening the oversight authority of the Long Island office of the Department of Public Service.

That would require annual reporting by LIPA and PSEG, review of all financial records and inspection of facilities.

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Online:

http://www.osc.state.ny.us/reports/pubauth/lipa_by_the_numbers_7_2015.pdf