Cuomo expected to announce LIPA privatization plan
Photo credit: Jim Peppler | LIPA technicians work on one of two transformers being installed at the LIPA Newbridge Road Substation in Levittown in preparation for the connection of the Neptune Regional Transmission System cable which will bring 660 Megawatts of electricity (the equivalent of two power plants) to Long Island. (Aug. 16, 2006)
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The Cuomo administration is expected to announce Wednesday a plan to privatize LIPA -- and senior administration officials said the blueprint calls for a three- to five-year rate freeze and new borrowing to pay the utility's debt.
The plan to sell the Long Island electric grid to a private utility, to be described during Gov. Andrew M. Cuomo's State of the State address about 1:30 p.m. in...
