AARP Praises 35% Cut to LI Utility Rate Hike But Urges NY to Address Affordability

Statement by Beth Finkel, State Director of AARP in New York State, on Approval of Long Island Power Authority 2016 Budget:         

UNIONDALE, New York – “Given PSEG’s original request, AARP is pleased with the end result - and relieved for Long Islanders. We are glad LIPA was able to trim more than a third off what would have been an historically-high, $441 million three-year revenue increase.

“Long Island utility consumers will still have to pay $287 million more over the next three years, and that won’t be easy – but it will be more manageable than what PSEG initially proposed. Long Islanders already face the third highest residential electric costs in the continental United States. About 16,000 Island households were shut off for nonpayment last year. And over half the Island’s Generation X and Baby Boomer voters are concerned about being able to pay their utility bills in the coming years, according to a recent AARP survey.

“All of this reveals a crisis in affordability that we urge our elected officials to address. LIPA may have been able to trim this rate hike even more if, as some trustees maintained, they were not constrained by the LIPA reform act of 2013 from considering affordability as a factor. That points to the need for the state to revisit this law. It also underscores the need for New York to join 40 other states in establishing a strong and independent utility consumer advocate that could act as a watchdog as energy policy is developed and rate hikes are considered.”

Contact: Erik Kriss, ekriss@aarp.org

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AARP is a nonprofit, nonpartisan organization, with a membership of more than 37 million, that helps people turn their goals and dreams into real possibilities, strengthens communities and fights for the issues that matter most to families such as healthcare, employment and income security, retirement planning, affordable utilities and protection from financial abuse. We advocate for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name as well as help our members obtain discounts on a wide range of products, travel, and services.  A trusted source for lifestyle tips, news and educational information, AARP produces AARP The Magazine, the world's largest circulation magazine; AARP Bulletin;  www.aarp.org ; AARP TV & Radio; AARP Books; and AARP en Español, a Spanish-language website addressing the interests and needs of Hispanics. AARP does not endorse candidates for public office or make contributions to political campaigns or candidates. AARP Foundation is an affiliated charity of AARP that is working to win back opportunity for struggling Americans 50+ by being a force for change on the most serious issues they face today: housing, hunger, income and isolation. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more at  www.aarp.org .