Like death and taxes a LIPA increase is just one of those inevitable annoyances we have to live with. Or is it?
LIPA chief Kevin Law claims that more money is needed to cover future operating expenses even though fuel prices have recently plummeted. Expecting increased demand for energy LIPA contracted for more power generation than they will now need and they are stuck with the bill. Mr. Law sees a 4.8% increase as the only way to go. He is not looking hard enough!
Businesses everywhere are blaming and using higher costs and lower revenues as reasons to trim their staff (believe me, I know.) Many are laying off loyal workers in an effort to keep more money in their own pockets but some human and humane CEOs are looking first to cut costs and upper management compensation in an effort to hold onto their people.
I believe LIPA should look to their own top executives and the salaries they are receiving for such stupid management and inept planning. Reduce their compensation first, bring in an independant observor or accountant to cut other unnecessary costs, and reach out to other communites to sell off your so-called future excess energy. Perhaps an executive should be laid off and in the spirit of "The Buck Stops Here" possibly Mr. Law himself.
As a utility LIPA has been grossly mismanaged since the days of robust Mr. Kessel but this needs to change and change soon. If not then taxes and LIPA will surely be the death of LI.