LIPA, KeySpan strike deal

LIPA, KeySpan strike deal

There are 17 comments on the Newsday story from Mar 22, 2007, titled LIPA, KeySpan strike deal. In it, Newsday reports that:

In a move that could help hold the line on electric rates, LIPA Thursday reached an agreement with KeySpan and its proposed owner National Grid that would sweeten a previous contract with $116 million in new ...

Join the discussion below, or Read more at Newsday.


Clifton, NJ

#1 Mar 23, 2007
Is this deal going to save us money like the LIPA deal did?

This whole merger stinks.

Thank You Elliot Spitzer, Mr. Kessel, and all the rest of you crooked politicians

Middle Island, NY

#2 Mar 23, 2007

Port Washington, NY

#3 Mar 23, 2007
Good start with sharing back synergy savings (but seems like small potatoes in such a large deal) and how about mandating a return of all margin dollars above X%? Most importantly, it needs to be an open book, auditable deal. Get to work, Kessel and Law...
not a chance

Port Washington, NY

#4 Mar 23, 2007
"Hold the line"? Maintain the highest electric rates in the nation? I'm sure they would.

How about real rate reform? Gut the perks, demand supply cost reductions and drop the rates -- start at 15% and negotiate more from that baseline.

Anything else is chump change for the consumer.

Where's Spitzer in all this? Let's hear from him.
United States of what

Glen Cove, NY

#5 Mar 23, 2007
Its bad enough that our fuel and water are controlled by foreign companies, but now are electricity as well? The dollar is so deflated that foreign companies are snatching up whatever they can - ever play Monopoly?
Long Island WAKE UP! Its not just about the bottom line,taxes and least we forget the LIRR gap - but about our sovernty as an independent country, while we are busy spreading freedom around the globe.


#6 Mar 23, 2007
This plan isn't about saving rate payers money it about making Kessel more money. He gets to broker another deal that will cost the rate payers millioins like Shoreham and he takes his golden parachute and rides off into the sunset with millions of our dollars. We are bieng screwed again by LIPA board (Kessel's cronies)again.
Guiness Drinker

Bethpage, NY

#7 Mar 23, 2007
c'mon Newsday, just tell us when the rate hike commences so we have all weekend to agonize over it

Bangkok, Thailand

#8 Mar 23, 2007
I can't believe you are paying for a nuclear plant that you aren't using.If you felt that way about the plant it never should have been started.Once it was started it should have been completed.You people are like a burnt out light bulb,NOT TOO BRIGHT!

Fairfield, CT

#9 Mar 23, 2007
if the rate payers dont like it, they cant take thier business elsewhere, or buy a generator

Stony Brook, NY

#10 Mar 23, 2007
Just another bribe - it still is our money. Same deal with Brookhaven town for 115 million to build a power plant. Let the companies keep the money and just cut our rates!
Bottom Line

New York, NY

#11 Mar 23, 2007
Will this lower or increase rates for LIPA customers? Words like "Sweeten the deal" "new funds" are really scary. Where would the money come from to sweeten the deal? How is Kessell going to lay "new funds"? Give back from his salaries? Lay off his cronies from LIPA?
big blue

Bronx, NY

#12 Mar 23, 2007
can't wait to read how much $$$ Richard Kessel makes off this deal.....arghhhh
Matt P

Clifton, NJ

#13 Mar 23, 2007
Why hasn't deregulation came to long Island ? It is currently upstate New York and in the NY city ( con ed service territory ) Saving consumers money because they can choose who there electric & gas supplier are instead of being forced to be paying just lippa or keyspan .. Isn't having a monopoly illegal here in the United States . So now with this buy out or take over, we Long Islanders are still subject to paying variable rates on our gas and electric bills . which might be slighter lower at first but being monopoly like in all the companies in the past history here in longIsland ,they eventually put there strangle hold on us the consumer because we have no other choice. If they raise there rates which always happens or we get a bill that we want to dispute we have no choice . We are stuck with that electric provider .. Why don't they offer a fixed rate that is going to protect us from the volatility of the natural gas market ? The answer is because they don't want to. They want to keep ripping us off here in long Island .. Now that 13-15 other states including NY are deregulated in the electricity supply . Again I ask why not long Island ? We were suppose to be starting deregulation back in 1997 or 98 but lippa and keyspan keep changing there policies to hold that monopoly intact ..Its also the local politicians that serve us .. They got there hands also in the cookie jar .. When does it stop ! Competition in any market proves to work .. Look at cable ,and telephone companies now .. Theres a website by the PUC public utilities commission ( ) It will help further explain this process of deregulation .. Look at your bills people look at what they charge us for supply and delivery of our electricity .. Plus there services charges, tariffs and taxes .. I know this because I work with different electric providers across the country and now here in the NYC area and see what savings can be offered because of competition .. So when is it going to be here in my hometown ? when that gets answered we long Islanders then will be free of this monopoly called keyspan and lippa ..
Bruce Resch

Brooklyn, NY

#14 Mar 23, 2007
As long as Kessel gets nothing, which is more than the crook deserves I'm okay with it. I realize that the new owners will squeeze as much out of us as they can but that's the reality these days. Why else does a company buy up another one if not to make money. As if we the rate payers aren't already paying through the nose wait a year and see what happens.
I am looking forward to getting out of this state as soon as I can. This deal just makes it easier. Perhaps we can sell the entire state to Dubai. I'll bet Bush, Cheney and his Arab love team would love that!
Thank You Mr Kessel

Jersey City, NJ

#15 Mar 23, 2007
Wow $35 what will we do with all that spare cash? Buy a car, a boat, maybe a half a tank of gas or even a tenth of our utility bill for the month. Kessel for President!

Montvale, NJ

#16 Mar 23, 2007
why dont they hire illegals at lipa instead of the fat pension slobs that work there now. our
rates would be $25.00 a month

Brooklyn, NY

#17 Mar 23, 2007
We waste our time to vent our view
It really is a joke
'Cause those in power say screw you
And get rich while we go broke.

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