Uniondale, April 1st, 2014 - PSEG Long Island announced that it is implementing changes to the Electric Service Tariff, effective today, April 01, 2014. The adjustments to the Tariff are required to accommodate aspects of the LIPA Reform Act of 2013, accomplish the rate freeze for 2014, and bring the Tariff more into line with New York State Department of Public Service (DPS) policies for regulated, investor-owned utilities. The fuel portion of the bill is separate from the Tariff rates and will fluctuate based on the cost of fuel supply and the customers’ individual usage.
Consistent with the goals of the LIPA Reform Act, all of the proposed changes are designed to maintain the Long Island Power Authority’s (LIPA) rates at their 2013 approved levels, excluding the Power Supply Charge (also known as the Fuel and Purchased Power Cost Adjustment). Additionally, the changes support PSEG Long Island’s commitment to building a top-ranked utility for its customers.
The changes will not materially impact the rates paid by customers. On an annual basis, an overall decrease of $800,000 in revenue will be collected, with minor fluctuations in bills for customers depending on their rate class. Slight increases and decreases that occur for some customers amount to less than one-tenth of one percent of the total bill and result solely from rounding of LIPA’s rates.
Proposed by LIPA in December 2013, the changes were reviewed by DPS and were found to comport with the spirit and intent of the LIPA Reform Act on February 24, 2014.
About PSEG Long Island LLC
PSEG Long Island LLC was selected by the Long Island Power Authority (LIPA) in Dec. 2011 to manage LIPA’s electric system. The 12-year contract includes commitments to improve customer satisfaction and provide safe, reliable service for LIPA customers. PSEG Long Island is a subsidiary of Public Service Enterprise Group Incorporated (NYSE:PEG), a publicly traded diversified energy company with annual revenues of more than $10 billion.