Eight state senators are demanding that PSEG change the way it pays for a program to reimburse ratepayers for spoiled food from Tropical Storm Isaias, saying company shareholders, not ratepayers, should pony up.
The demand, in a letter sent to LIPA's top executive that refers to PSEG Long Island's program funding as a "shell game," comes as PSEG revealed that a similar program recently launched for utility customers for its sister New Jersey company will be funded directly through corporate, or shareholder, money.
LIPA, in response, asserted that because the Long Island reimbursement plan is coming from performance incentives that would otherwise be paid to PSEG, the Long Island reimbursements “come from shareholders, as you seek.” Added PSEG spokeswoman...| read more ››