A commission appointed by Governor Andrew Cuomo today recommended New York State privatize the Long Island Power Authority, the state-run utility that performed abysmally following Hurricane Sandy, but what will that mean for ratepayers?
"The costs of privatization...are significant and none of these things are going to come about without a probable increase in rates," said Michael Fragin, who served on the LIPA board of trustees' finance committee through 2011.
After two weeks of criticizing the power companies' performance after Hurricane Sandy, Governor Andrew Cuomo has created a Moreland Commission charged with investigating every utility company in New York State.
It's become something of a ritual for Governor Andrew Cuomo to blast Con Edison and the Long Island Power Authority for their performance following Hurricane Sandy.(7)