Privatization Best Path For Long Island Utility, Cuomo Told

Law360, New York (January 07, 2013, 5:52 PM ET) -- A panel investigating the Long Island Power Authority's response to Superstorm Sandy told Gov. Andrew Cuomo on Monday that the $12 billion “dysfunctional” government-run electricity service provider should be sold back to the private sector and run like New York's other electric utilities.

Moving LIPA back to the private sector would be a "complex transaction" and would require planning, especially since the utility is burdened with billions of dollars in debt that can't simply be discharged, according to Moreland Commission members including Ben Lawsky, chairman of...
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