The Long Island Power Authority yesterday decided not to increase rates for its Hurricane Sandy-ravaged customers — at least for now.
The utility released its $3.6 billion 2013 budget, and outgoing LIPA Chief Operating Officer Michael Hervey said he was “pleased’’ that no boost would be needed, despite nearly a billion dollars in storm-restoration costs.
LIPA said it expects FEMA to pay most of the costs.
But the method of covering any shortfall will have to be determined later, when the size of it is clear, LIPA said.