| Long Island Electric Rates to Rise 11.6% in 2024 alone. |
| Solar is the answer to avoid rising Long Island electric rates! The recently approved 2024 Long Island Power Authority budget includes “an average monthly bill hike of almost $20 — an 11.6% increase — for customers next year,” according to news reports for residential electricity. This is based on what LIPA notes as ‘typical current bills of $167.28 per month.’ Applying that math to not-unusual higher monthly electric bills, a $300 bill, for example, an 11.6% increase this year would rise by $34.80 and a $400 bill by $46.40, and so on. For solar customers whose costs have been eliminated, this will have no impact. The delivery portion of bills (the so-called interconnection fees that apply to all customers, including those with solar energy) remained below the 2.5% increase threshold that would have required a full rate review by the NYS Department of Public Service. According to reports, a full DPS review of LIPA rates last took place in 2015. PSEG Long Island manages the LIPA electric grid under an annual contract, which is scheduled to expire at the end of 2025. READ MORE |