LIPA head concerned about KeySpan sale
The chairman of the Long Island Power Authority (LIPA) says he has questions as to how the recent sale of KeySpan to a British utility company will affect prices.
LIPA head Richard Kessel says he is concerned with what National Grid?s purchase of KeySpan will mean for customers. He says skyrocketing bills must be curbed and that any money National Grid saves as a result of the deal should be given back to consumers.
Kessel says he also has concerns about how the sale will impact service and wonders how many job cuts will be necessary. LIPA has the right to cancel a new management contract it recently negotiated with KeySpan. State lawmakers must still scrutinize the KeySpan sale.
Related Story: London-based company purchases KeySpan in $7.3 billion deal