NY gov proposes 3-year rate freeze in LIPA takover
New York governor proposes 3-year rate freeze in restructuring LIPA
ALBANY, N.Y. (AP) -- New York Gov. Andrew Cuomo wants to freeze Long Islanders' energy rates for three years as part of a proposal to end operating control of the Long Island Power Authority.
Legislative leaders didn't commit to the proposal. But Assembly Speaker Sheldon Silver and Senate Republican leader Dean Skelos say Cuomo's proposal Monday would be a good first step.
A plan would have to be approved by the Legislature by the end of the session June 20.
Cuomo wants to shrink LIPA's staff and reduce its role to handling the authority's $6.7 billion in debt. Daily operations would be taken over by Public Service Electric & Gas Co., which has operated in New Jersey for 100 years.
Cuomo is calling for the change in part because of long power outages after Superstorm Sandy.
