ALBANY-A panel appointed by Gov. Andrew Cuomo has recommended that the Long Island Power Authority be purchased and run by a private entity.
The State’s Moreland Commission issued its report to the governor on Monday. The utility, created as a successor to the Long Island Lighting Co. 28 years ago by then Gov. Mario Cuomo, has come under harsh criticism for its performance after Hurricane Sandy. However, energy analysts tell Crain’s New York Business that LIPA would be a tough sell to any private entity.
The commission identified two possible buyers for LIPA—Public Service Enterprise Group (PSEG) of Newark, NJ and New York City’s Consolidated Edison Inc. See story in Crain’s New York Business.