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Assembly passes amendment to LIPA Reform Act

COURTESY PHOTO

COURTESY PHOTO New legislation affecting PSEG has passed in the Assembly.

Assemblyman Fred Thiele’s bill amending the LIPA Reform Act by requiring PSEG to make public all information pertaining to compensation — including executive pay and fees paid to consultants and contractors — passed the Assembly and was sent to the Senate for its consideration.The legislation would require that the State Department of Public Service consider such information in making recommendations to LIPA concerning rate requests.

PSEG resisted providing such information during its 2015 rate hearings, Mr. Thiele (I-Sag Harbor) said.

It refused to provide executive compensation information for its 18 top officials, maintaining it was exempt from state scrutiny or public disclosure under the LIPA Reform Act.

The management contract between LIPA and PSEG has a 12-year life span and this year the management group will see its fee increase from $45 million to $73 million, Mr. Thiele said.

PSEG spokesman Jeffrey Weir has maintained that the increases result from added costs of delivering power to Long Island.

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