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LIPA's $6.9B debt hinders storm preparedness

A LIPA worker repairs an electric line in

Photo credit: Ed Betz | A LIPA worker repairs an electric line in Ronkonkoma. (Nov. 11, 2012)

LIPA's $6.9 billion debt load, long portrayed as a hindrance to rate relief and new energy projects, also stands in the way of efforts to protect the Long Island grid from the impact of the next major storm.

Despite storm-hardening initiatives and capital projects that saw much of the grid replaced in the past 12 years, superstorm Sandy took out 50 of LIPA's 185 substations, 4,500 utility...

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