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PSEG Bills to Rise Again Despite "Rate Freeze"

PSEG Bills to Rise Again Despite

Patchogue (WALK) - If you thought that having a new power company on Long Island might keep our electric bills in check, think again.

PSEG says that the power supply charge on its Long Island customers' bills will go up in February, and will probably rise again in March as well. This follows a huge spike in the power supply charge in January, the month PSEG took over Long Island's electric system from LIPA.

The company blames the increases on the rising cost of the natural gas that powers many electric plants. The price hike translated to about $17 per customer in January and over $5 in February. This puts Long Island's power supply charge is at its highest level in about 10 years.

PSEG took over the Long Island power grid on January 1st after Governor Cuomo pushed through his reform act, which all but eliminated LIPA. The LIPA reform law promised a three-year rate freeze following the PSEG takeover, but the freeze only applies to the delivery-charge part of bills, which rarely fluctuates.

Photo: Pegasus1138


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