With each passing month, the shortcomings of the “LIPA Reform Act” become more and more apparent. The State of New York has granted PSEG-LI a virtual unregulated monopoly with near dictatorial authority over Long Island’s energy future. No other utility company in the nation has the type of unfettered dominion over its service territory that has been granted to PSEG-LI.

The latest fiasco is the claim by PSEG-LI that executive compensation for its 18 top officials is not subject to State oversight. Further, PSEG-LI claims that under the LIPA Reform Act, they are not even required to disclose executive compensation.

This is totally different from other private utility rate proceedings across the nation. Executive compensation is an important issue and a subject to review in utility rate cases. PSEG-LI executive compensation is to be paid from a management fee that is due to increase from $45 million to $73 million in 2016.

I call on PSEG-LI to disclose current executive compensation for its executives as well as proposed compensation for 2016, 2017, and 2018, the period for which a rate increase is proposed.

It is clear that the State Legislature needs to revisit the LIPA Reform Act and the unprecedented authority that has been granted to a private company in its role as a contractor to LIPA.