Report: LIPA lost $164M in 2012

The company expects FEMA to help refund some of the costs from the storm.

The company expects FEMA to help refund some of the costs from the storm.

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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.

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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.  

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