LIPA/NYPA: Don’t Bailout National Grid

Long Island Business News » Maniscalco: Bailout senseless

The Long Island Power Authority and the New York Power Authority have set the wheels in motion to bail out National Grid by purchasing its plants, which National Grid Vice President Robert Catell has labeled “junk.” This begins the process to take National Grid’s toxic assets off the corporate books and place them on the public ledger. It’s a calculated move to benefit Grid investors, bond sellers and bondholders, at the expense of LIPA ratepayers and state taxpayers.

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