Friday, April 18, 2014

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State Lawmakers Approve Cuomo's LIPA Restructuring Plan

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TWC News: State Lawmakers Approve Cuomo's LIPA Restructuring Plan
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State lawmakers have approved Governor Andrew Cuomo's plan to hand over daily operations of the Long Island Power Authority to New Jersey's Public Service Electric & Gas Company, or PSE&G.

LIPA would still be owned by the state authority to make sure it can still receive federal disaster aid and secure lower borrowing rates.

Cuomo has been critical of LIPA and its contractor, National Grid, after so many people were left without power after Hurricane Sandy.

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