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Long Island Power Authority and PSEG Long Island Announce 2015 Proposed Operating and Capital Budget

LongIsland.com

Rate Freeze for the 3rd Year in Row Announced in 2015 Proposed Budget.

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Uniondale, NY - November 18th, 2014 - The Long Island Power Authority (the Authority) and PSEG Long Island today released a draft 2015 budget proposal (PDF) that freezes rates for the third straight year and reflects budget discipline and commitment to manage costs.

The proposed 2015 budget continues the effort from the previous year as PSEG Long Island works to apply the investments and committed resources to make further improvements to customer satisfaction and system reliability. Specifically, the proposed 2015 budget reflects significant investment in electric system resiliency, with significant benefits to promote economic development and job growth.

“Throughout 2014, we executed an aggressive plan to implement improvements that have increased customer satisfaction and enhanced system reliability, all while keeping our commitment to maintain stable rates through the end of 2015,” said David Daly, president and COO of PSEG Long Island. “We will continue to implement needed improvements to the system, maintain industry best practices and drive process changes to further improve customer satisfaction.”

“Through budget discipline, commitment to manage costs, and state and federal grants we seek to continue to maintain delivery rates at present levels as PSEG Long Island has demonstrated the value of having an experienced and focused utility operator work day-in-day-out to modernize and strengthen the system and improve customer satisfaction,” said Authority Chief Financial Officer, Tom Falcone.

Public input sessions on the proposed budget will be held on November 20th in both Nassau and Suffolk Counties. Customers are encouraged to attend one of the two public sessions to provide comments on the proposed budget. A list of public hearing dates and locations is located on the Long Island Power Authority’s website. Customers may also submit comments via email to 2015budget@lipower.org.

It is anticipated that the Long Island Power Authority Board of Trustees will consider the 2015 budget at its December 17, 2014 meeting, which is also open to the public and will be held at the Long Island Power Authority’s headquarters at 333 Earle Ovington Boulevard in Uniondale.