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OpinionLetters

Letter: LIPA debt should be investigated

A maze of power lines emanates from LIPA's

A maze of power lines emanates from LIPA's Port Jefferson power plant. (Aug. 5, 2013) Credit: Newsday / John Paraskevas

In "Turning the page on LIPA" [Editorial, Dec. 22], Newsday states that PSEG Long Island will inherit an unkind and ugly history. There is the $7-billion debt incurred when taxpayers had to soak up shareholder-owned Long Island Lighting Co.'s losses on the never-opened Shoreham nuclear power plant, which led to creation of the Long Island Power Authority.

To be clear, ratepayers did not have to soak up this debt, but this debt was forced upon us by the former LILCO board.

The deal to this day continues to enrich banks and Wall Street companies that invested in LILCO, at the expense of the customers.

If Gov. Andrew M. Cuomo, Nassau District Attorney Kathleen Rice and the State Legislature are serious about stamping out corporate and government fraud, then it is time to investigate this debt placed on the companies and people of Long Island.

Paul Lozowsky, Patchogue

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