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Friday, July 25, 2014

LIA Creates Special Committee to Analyze LIPA's Future

FOR IMMEDIATE RELEASE
Melville, NY
February 7, 2013
Contact:
Matthew Cohen 631-493-3002


Long Island Association Creates Special Committee to Analyze LIPA's Future

            At a time when Governor Andrew Cuomo has proposed a privatization of the Long Island Power Authority and some elected officials and local residents have called for full municipalization of the utility, it is imperative that the Long Island Association independently evaluates the most appropriate course of action based on rate impacts, service reliability and the ability to invest in a stronger, smarter and more efficient transmission and distribution system. Accordingly, the LIA has created a new special LIPA Committee comprised of some of the top business leaders on Long Island to review the governor's proposal.

            The LIA LIPA Committee held its inaugural meeting on Wednesday, February 6th and plans to make its recommendation to the LIA's full Board of Directors by the end of March. The Committee has also invited the governor's office and its consultants from Lazard to appear at its next meeting to get briefed on the governor's proposal. As the leading voice for business on Long Island, the LIA's new committee will draw on the experience and knowledge of accomplished business leaders and energy experts to produce a recommendation that is in the best interest of Long Islanders.

"The future of LIPA and how Long Island's energy system is owned and operated is one of the most important issues facing Long Island today," said Kevin S. Law, President & CEO of the Long Island Association.

The Chairman of the LIA, Kirk Kordeleski, President and CEO of Bethpage Federal Credit Union recently created the committee and said, "The LIA wants what is best for our region and will thus review the governor's data and study the facts in order to submit recommendations on whether or not LIPA should be privatized or if other options should be pursued."

The Chairman of the Special LIPA Committee is Brian Cullen, Co-President & Co-Chief Operating Officer, King Kullen Grocery Co., Inc. who said "The potential privatization of LIPA will have significant ramifications to the region and this Committee was formed to give the business community and all of the ratepayers a voice in how the state should proceed."

The Committee expects to formulate its recommendation by the end of March and then will share it with the governor and the New York State Senate and Assembly delegation from Long Island and the respective chairs of the Legislature's Energy Committees.