Spin Cycle

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LI pols can't get direct answer on LIPA-privatization data

It was clear Wednesday that Long Island lawmakers are itchy to know when they’ll see the financial figures a consultant and the Cuomo administration are using to recommend privatizing the Long Island Power Authority.

The answer: not soon.

“When are we going to see those [financial] models?” Sen. Kenneth LaValle (R-Port Jefferson) grilled New York Power Authority President Gil Quinones.

“We don’t want to rush the analysis,” Quinones responded.

“Weeks? Months?” LaValle continued.

“It would depend,” Quinones said. “I would hate to give you a date and then it doesn’t comply to this.”

“We don’t have anything to have a thorough discussion on because we don’t have these models,” LaValle protested moments later.

“Maybe months,” Quinones answered, finally giving a rough idea.

The Lazard Ltd. firm consulted with the panel put together by Gov. Andrew M. Cuomo that eventually said privatization would be the best way to go – in contrast to a Brattle Group report that said privatization would result in rate hikes to consumers. Cuomo has said a private LIPA "makes the most sense."


 

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