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PSEG Long Island reduces power supply charge

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PSEG Long Island reduces power supply charge

PSEG Long Island LLC will institute a power supply charge of 9.2192 cents per kWh for February, marking a decline from January.

The Public Service Enterprise Group Inc. subsidiary, which operates the transmission and distribution grid for the Long Island Power Authority, said in a Jan. 31 news release that customers consuming 762 kWh per month will see a decrease of $12.10 in their February electric bill.

The lower rates are attributed to warmer than normal weather in January. "This resulted in reduced demand and lower prices in January for the natural gas used to generate electricity and purchased power. Additionally, the projected price of natural gas for February is lower," said Paul Napoli, PSEG Long Island's vice president of power markets.