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The Death of LIPA

It’s no secret that LIPA has been struggling. In November, USA Today’s Headline was: Long Islanders Fume Over Utility’s Sandy Response.  That’s already pretty bad, but news for the New York Utility continues to get worse…  The Chicago Tribune just reported: “NY Governor to request federal probe of Long Island utility” This is just the latest tough turn of events for the debt stricken utility.

As such, it’s no surprise that the Long Island Power Authority is the subject of a dramatic legislative overhaul. In this legislation, PSEG Long Island will become the new utility and will focus on more efficient and ratepayer minded service.

“Today’s agreement will finally end LIPA as we know it and create a new utility company on Long Island that puts ratepayers first,” Governor Cuomo said. “For years, LIPA has provided lackluster service while asking ratepayers to foot the bill for its financial problems. LIPA’s failure during Superstorm Sandy was a wakeup call for action. This legislation delivers on performance by privatizing utility operations under PSEG Long Island to ensure it is ready for future storms and accountable for its response.” –Governor Andrew Cuomo

All in all, this is great news for Long Islanders.  As the heroic cavalry of PSEG enter Long Island to save the day, Long Islanders will soon be relieved of ever rising utility rates, better service, and will finally have a more reliable utility.

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