Report: LIPA lost $164M in 2012
WOODBURY - Officials say Sandy's hefty storm bill was by far the largest for LIPA and pushed the utility toward historic losses in 2012.
Newsday is reporting that LIPA lost $164 million last year.
The company expects FEMA to help refund some of the costs from the storm.
However, declining usage and slow-paying customers also impacted its finances.
Earlier this month Gov. Cuomo's panel recommended selling LIPA to a private company.