LIPA Trustees Vote to Hold Rates Steady

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    NEWSLETTERS

    TK
    AP

     

    Despite a possible $950 million repair bill from Sandy, the Long Island Power Authority will not be raising rates.

    Newsday reports that LIPA trustees on Monday voted to hold current rates steady. They also approved about $5 million in storm outage-related service credits for customers. More than a million customers lost power after the October storm.

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    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.

    At the meeting, LIPA also officials said they expect the Federal Emergency Management Agency to reimburse LIPA for 75 percent to 100 percent of the storm bill.

    LIPA trustees also appointed current chief financial officer Michael Taunton to be the new chief operating officer. He replaces Michael Hervey, who resigns at the end of the year.

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    On Long Island, the rain and falling temperatures are just the latest blow to tens of thousands of people still in the dark. One Valley Stream father is more anxious than ever after bringing his 2-day-old newborn back to a powerless home. News 4's Pei-Sze Cheng reports.

    Taunton will assume chief executive responsibilities until a new CEO is named.

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