LIPA Approves Slight Rate Increase For Customers

At a meeting on Wednesday, the LIPA Board of Directors approved a rate hike that will inch up fees for customers across the Island.

According to Newsday, LIPA approved a 2.45 percent delivery charge increase, which will translate to about $1.86 a month for the average residential bill.

The board also approved a bond for $560 million to upgrade the Island's electrical grid to make it more resilient, as well as to invest more money in green electricity alternatives, News 12 reported.

The bond money will go toward a new substation in Montauk, a storm-hardening initiative and making the grid around the Nassau Hub stronger and more robust to plan for future development at the site.

You can read more at Newsday.