Assemblyman Fred Thiele (I, D -Sag Harbor) today announced his vehement opposition to reports that PSEG may be seeking incentive compensation for 2020.^[1] At the start of last year, there existed $10 million in a fund for bonus pay for PSEG, which is generally obtained through an application process, should the utility meet a series of performance targets.

Following Tropical Storm Isaias in August, which had catastrophic results for Long Island residents and businesses due to PSEG’s total lack of preparation and mismanagement, PSEG agreed to utilize $6.4 million of the incentive pay fund to reimburse ratepayers for lost food and medicine. With $3.6 currently remaining in the fund, PSEG has not ruled out applying to utilize it as bonus pay.

Assemblyman Thiele stated, “It is absolutely outrageous that PSEG has not ruled out seeking bonus pay, in a year where the suffering of Long Islanders was only exacerbated by a complete failure of the utility in August. To think that they have earned a bonus is completely out of touch. I urge LIPA to reject any application for incentive pay, should PSEG proceed with one. Instead, LIPA should move with all deliberate speed to cancel the contract with PSEG-LI and establish a true public utility.”

[1] https://www.newsday.com/business/lipa-pseg-psc-isaias-1.50111056