“Disturbing” is one word that Hempstead Town Supervisor Kate Murray used to describe PSEG Long Island’s failure to disclose important data associated with the utility’s recent rate increase proposal. In a letter sent to local representatives of the New York State Senate and Assembly, Murray detailed her dismay with the utility’s actions and called on the state elected officials to amend a law that permits PSEG executives to hide their salaries and other compensation from the public’s view. Murray discussed the letter today during a press conference, where she was joined by Town Clerk Nasrin Ahmad, Receiver of Taxes Don Clavin and the Long Island Business Council’s Richard Bivone (Nassau County Co-Chair).
Murray’s letter was sent in response to PSEG Long Island’s proposal to increase rates, presently under the review of the New York State Department of Public Service (DPS). The power provider’s proposal did not disclose salary of key high-level executives and other key compensation figures, including employee bonuses, incentive compensation, “golden parachutes,” retirement information and other pertinent data. The utility claims it is not required to disclose the executive compensation under the state’s LIPA Reform Act.
“It is disturbing that the utility has apparently sought to secret certain information sought by New York State’s Department of Public Service (DPS), which is reviewing the power provider’s proposal for a rate increase,” Murray said. “I am outraged by the arrogance and lack of responsiveness on the part of the administration at PSEG Long Island as they have clearly been stonewalling the state authority which is considering the utility’s rate increase proposal.”
“Indeed, today I respectfully call for state legislation to compel PSEG Long Island to reveal executive compensation data to the public,” the Supervisor added.
“Utility rate increases impact both business owners and residents,” Bivone said. “As fellow rate payers, we all deserve to know where our dollars are going.”
Murray explained that ratepayers deserve full transparency, since residents in the company’s service area have “few if any practical alternatives to paying utility bills replete with PSEG rate increases.”
“Our ratepayers/taxpayers fund the salaries of these individuals, and they have a right to know,” Murray said. “Accordingly, I am respectfully calling upon state officials to amend the law that allows PSEG executives to hide their salaries and other compensation from the public’s view.”