Nowhere are the failings of traditional utility regulation more evident than on Long Island. The New York Public Service Commission (PSC) has raised rates for the Long Island Lighting Co. (LILCO)...
Will deregulation spell the end of utility philanthropy? Not necessarily so, according to a new study
of charitable giving at 11 investor-owned electric utilities from across the country.
Of those companies surveyed, one pegged its charitable contributions budget as a percent of revenue. Some indicated that they
followed the "utility average" of giving 0.5 percent of income before taxes. (The national average for all companies is 0.9 percent.) Four utilities reported donations at or above that figure. The most generous company gave 1.44 percent of pretax income; the lowest,
0.2 percent. t
Articles found on this page are available to Internet subscribers only. For more information about obtaining a username and password, please call our Customer Service Department at 1-800-368-5001.