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Report: LIPA lost $164M in 2012

The company expects FEMA to help refund some

The company expects FEMA to help refund some of the costs from the storm. (January 25, 2013 8:02 AM)

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. However, declining usage and slow-paying customers also impacted its finances. Earlier this month Gov. Cuomo's panel recommended selling...

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