Dive Summary:

• Monday, New York Governor Andrew Cuomo signed a major reform bill officially putting the troubled Long Island Power Authority (LIPA) under the management of New Jersey’s PSE&G.
• “Going through Hurricane Sandy for me, was the straw that broke the camel’s back with LIPA,” Gov. Cuomo said.  “I said to the legislators, ‘This has to end. Should’ve ended 10 years ago, but it has to end.’ … LIPA was wasteful, was expensive, and was incompetent. And that, my friends, is a bad combination of things in almost any occupation.”
• Customers can expect a three-year rate freeze, accountability, and competency, Gov. Cuomo said.

From the article:

“The U.S. Attorney is still looking into whether laws were broken by LIPA in paying exorbitant rates to consultants…”