IRS Ruling OKs LIPA-PSEG Changeover
Sunday, December 29, 2013 11:33 pm |
< 1 Minute Read
The IRS has approved New York State’s contract with PSEG, clearing its way to take over Long Island’s troubled electric grid. The New Jersey-based PSEG will replace the Long Island Power Authority’s brand starting Jan. 1. LIPA will become a financial holding company with a reduced staff. Gov. Andrew Cuomo said on Thursday that the IRS ruling “means better service and cost savings for ratepayers.”
This article appeared in print on page 5 of edition of Hamodia.
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