Nassau County Legislator Dave Denenberg (D-Merrick) plans to host a community meeting Monday in Seaford with representatives of PSEG to discuss the utility’s plans for Long Island’s electric grid.
The meeting will be held at 7 p.m. at Seaford High School, 1575 Seamans Neck Rd.
Earlier this month, Long Island Power Authority trustees unanimously approved a 12-year contract with PSEG, scheduled to take effect Jan. 1, which can be extended for another eight years if PSEG meets certain performance standards. The new contract shifts major operational and policy-making responsibilities of the local electric grid owned by LIPA to New Jersey-based PSEG.
Under the new contract, PSEG will receive $36.3 million in annual compensation for 2014 and 2015. In 2016 and for the remainder of the contract, the figure jumps to $58 million, because of its expanded duties under the LIPA reform act passed this summer. PSEG will receive incentive compensation of $8.7 million a year starting in 2016, if it hits certain customer satisfaction and service targets.
For more information, call Denenberg’s office at 516-571-6219.