Report: LIPA lost $164M in 2012
WOODBURY - Officials say Sandy's hefty storm bill was by far the largest for LIPA and pushed the utility toward historic losses in 2012.
Newsday is reporting that LIPA lost $164 million last year.
The company expects FEMA to help refund some of the costs from the storm.
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However, declining usage and slow-paying customers also impacted its finances.
Earlier this month Gov. Cuomo's panel recommended selling LIPA to a private company.