LIPA votes no rate hike, picks new operating officer
Photo credit: Newsday Audrey C. Tiernan | LIPA trustees appointed current chief financial officer Michael Taunton to be the new chief operating officer. (Dec.17, 2012)
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LIPA trustees on Monday approved a budget that holds rates steady, voted to give residential customers a $5 storm-related credit next month and appointed a new chief operating officer.
Michael Taunton, who also remains LIPA's chief financial officer, will replace Michael Hervey, who will resign at the year's end.
The board's action on the $3.6 billion budget left until next year a decision...
