Long Island Power Authority Lowers Rates

By David Reich-Hale

The Long Island Power Authority said Tuesday it was lowering the average bill by 2 percent.

The utility said it was dropping the cost of energy by cutting the power supply charge by 4 percent starting in February.

Recent reductions in oil and natural gas prices led to the power supply charge cut, said Richard Kessel, the utility’s president and chief executive, in a press release.

“If oil and gas prices continue to drop in the months ahead, we will reduce the power supply charge again,” added Kevin Law, LIPA’s new chairman.

LIPA is not changing the delivery and system charge portion of its bill, which has remained steady since 1998.

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