Cuomo Proposes 3-Year Rate Freeze in LIPA Takover

ALBANY (AP) -

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.

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 for 100 years.