LIPA decreasing power supply charges

May 27, 2010 5:08:50 AM PDT
Residents on Long Island are going to notice a lower electric bill this summer. The Long Island Power Authority said it plans to reduce its power supply charge by 6 percent due to lower than expected natural gas prices.

Customers will see a reduction of about $5 a month beginning June 1.

LIPA CEO Kevin Law told Newsday that the utility's 1.1 million customers are benefiting from natural gas prices that have stabilized at lower levels than projected in the 2010 budget.

"It's good news for our customers," he told the newspaper. "They're getting the benefit of lower fuel costs."