LIPA: No Rate Hike Despite $950M Repair Bill
Anger is growing at LIPA as outages stretch into a third week, and a class action lawsuit is filed against the power company and National Grid. It claims the utilities' negligence before and after Sandy borders on criminality. Greg Cergol reports. (Published Tuesday, Nov. 13, 2012)
The Long Island Power Authority says its repair bill from Sandy could hit $950 million.
According to Newsday, LIPA trustees have been told that federal reimbursements could cover all of that amount.
It says that means the utility won't raise rates — at least for now.
Published at 9:41 AM EDT on Dec 7, 2012
Copyright Associated Press / NBC New York