Tell Us: Replace LIPA with Private Company?

Concerned Long Islander January 9, 2013 at 02:55 pm

NO!!! We had privitization of our energy for decades...does anyone remember LILCO? That was a TOTAL fiasco. Our rates were the highest in the country (not that they aren't now). And the reason given to us was that LILCO had to "take care" of their shareholders FIRST before offering lower rates. Consequently, our "esteemed" politicians (with the outcry from citizens) was to make turn LILCO into a public utility (LIPA). The real problem is is that there is NO OVERSIGHT... the trustees are all political cronies, and LIPA just flies high until trouble erupts. Then you have the governor screaming at them! He's put those people in position, and now he's doing it again. He appoints a real estate mogul and an accountant....how about an ENGINEER--OR TWO--OR THREE! How about continual oversight? How about REAL management? There's plenty of blame to go around -- but the buck stops with the head honchos (governor and LIPA). NO TO PRIVITIZATION...we've done it already---it DOESN'T WORK!

John E. Capobianco January 9, 2013 at 09:53 pm

The real problem is that we took on Shoreham's debt. When you invest their is the risk of losing all your capital. Default on the bonds, I am sure the interest has more than made up for the initial capital investment. LIPA should not be hamstrung with the mistakes of LILCO. Another private company would be a gigantic mistake.