Officials who are scrutinizing the future of the Long Island Power Authority are considering selling off much of LIPA's assets to a private company as one way to reshape the hamstrung utility.
According to a Newsday report, officials in Gov. Andrew Cuomo's administration are working with investment bank Lazard Ltd on several plans, which include privatization.
Click here to read the report.
Planning related to LIPA restructuring is wrapped in with the governor's Moreland Commission, which in addition to probing how state utilities performed in the wake of Superstorm Sandy, is charged with making recommendations for reforming the area's electric distribution companies.
LIPA has taken the brunt of that attention after communication failings in the storm's immediate aftermath, leadership exits and power restoration lengths that fell short of other metro-area utilities that faced similar devastation eroded public opinion of the utility.
But as officials debate LIPA's future, we'd love your comments. Should LIPA be privatized, remain a public utility or be dissolved altogether? Let us know in the comments section below..
