NY Lawmakers Set To Strip LIPA Of Grid Oversight

Law360, New York (June 18, 2013, 1:34 PM EDT) -- New York state lawmakers desperate to avoid future post-storm service fiascoes on Long Island hashed out legislation Monday to reform the Long Island Power Authority, largely stripping its oversight over the electric grid, putting the grid under the purview of state regulators and refinancing its massive debt.

LIPA, which manages Long Island's transmission and delivery systems, would be reduced to a debt-management entity under the bill, introduced in the New York State Senate and Assembly on Monday amid negotiations over a number of outstanding legislative issues....
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