Public hearing held in Albany on future of defunct power company

State legislators say they still need more information on the company's finances before making any decisions on the utility. Gov. Andrew Cuomo has frequently called

Gov. Cuomo wants to sell the utility to a more efficient, private company.

Gov. Cuomo wants to sell the utility to a more efficient, private company. (2/27/13)

ALBANY - A public hearing was held in Albany today on the future of LIPA.

State legislators say they still need more information on the company's finances before making any decisions on the utility. Gov. Andrew Cuomo has frequently called for LIPA to be privatized, but a recent Newsday report indicated that privatization could lead to higher rates.

The hearing comes months after nearly 1 million residents were left without power after Hurricane Sandy.

"In my mind, they've done a lousy job in maintaining their own infrastructure," says state Sen. Carl Marcellino (R-Syosset).

State officials say a full report on how to confront LIPA will be released in the spring.
 

advertisement | advertise on News 12

Top 5 Must See

In Long Beach, officials recommend moving cars to 1 South Shore braces for possible beach erosion due to nor'easter
The incident happened at Manor Field Park 2 Suspects sought in attack on teen in Huntington Station park
Prosecutors say O'Neil Sharpe Jr. caused the fiery 3 Man accused in fatal DWI on SSP to appear in court
Police say they think the shots were fired 4 Police: Shots fired into Elmont home with family inside
Cycle for Survival is the movement to beat 5 Cycle for Survival: Fighting rare cancers

advertisement | advertise on News 12

More News

Gov. Andrew Cuomo has appointed a new chairman Cuomo appoints new LIPA chairman

The governor selected Lawrence Waldman, a current LIPA trustee, for the job.

LIPA examines how it will pay for Sandy LIPA looks at how to pay for Sandy cleanup

The Long Island Power Authority (LIPA) is figuring out how to cover the massive costs

The forum will take place next week at Public hearing to be held over LIPA

Residents upset with the Long Island Power Authority's response to Hurricane Sandy can voice their

Cuomo wants to LI lawmakers on privatizing LIPA: Not so fast

Legislators say LIPA has cheap debt right now because it's a government agency. If it

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE