In the presentation of the 2011 financial report for LIPA at the Thursday Board meeting, it was revealed that during the year the utility overcollected from customers $28 million for efficiency and renewable programs.
Originally, there was considerable concern when LIPA added this specific charge to customer bills because it financially obligated customers who could not afford to take advantage of the Authority’s programs, to subsidize those who could. Now the overcollection of funds for efficiency and renewable programs only makes matters worse by rubbing salt in the wound.
It appears that significantly overcollecting from ratepayers is a routine LIPA practice, on the basis of this latest revelation and the utility’s admission last year of overcharging almost $400 million for unaccounted for electricity as well as fuel. With among the highest rates in the nation, you would think LIPA would be more careful to avoid additional financial burdens for its customers. Apparently that is not the case.