New York Governor Andrew Cuomo’s proposal to privatize the Long Island Power Authority would require the immediate redemption of the utility’s $6.9 billion in short-term notes and long-term bonds, some analysts are saying.

On Monday a body appointed by New York Gov. Andrew Cuomo, the Moreland Commission, released its initial recommendations for changes to the authority and regulation of the state’s public and private power utilities. It recommended that a qualified utility purchase LIPA’s assets and serve as the manager of Long Island’s electrical utility.

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