LIPA ratepayers can expect a one-time credit of up to $3 on a future bill as part of a federal settlement with an energy provider accused of manipulating wholesale energy markets.

The Federal Energy Regulatory Commission in March approved a $110 million civil penalty against Constellation Energy Commodities Group after it found the company manipulated three regional energy markets, including New York's.

advertisement | advertise on newsday

Public Service Commission chairwoman Audrey Zibelman said the settlement "directly benefits consumers harmed by Constellation's actions by providing a one-time residential customer credit" and economic benefits that "protect consumers' interests and help further strengthen our energy infrastructure."

LIPA expects to receive $6.4 million from a total $48 million divided among the state's seven public and privately owned utilities. In addition to credits going to customers, $10 million in settlement funds will go to support "consumer advocacy" in New York's energy market, and $20 million will be used "to promote advanced technologies to optimize transmission system performance," the PSC said.

Other state utilities receiving refunds include $15.1 million for Con Ed customers, $10.4 million for National Grid upstate customers and $5.9 million for New York Power Authority customers.