June 21, 1995 |
Government Agency Makes Offer on Long Island Lighting: The Long Island Power Authority said it has offered $17.50 a share to acquire Long Island Lighting Co., known as Lilco, in a deal that will be worth about $2 billion to shareholders. The utility serves more than 1 million customers near New York City. Last year, New York's then-Gov. Mario Cuomo, in his reelection campaign, had proposed a state takeover of Lilco. Current Gov. George Pataki said he will appoint a panel to study the takeover.
April 21, 1989 |
The Nuclear Regulatory Commission granted a full-power operating license to the controversial Shoreham nuclear power plant Thursday in a gesture that may ultimately prove to be symbolic. The commission voted 4 to 0 to grant the license, ending years of hearings that produced reams of testimony and cost millions of dollars. It is the first U.S. nuclear plant to be licensed on the basis of a utility-formulated emergency plan, rather than one created by the state and local governments.
March 4, 1989 |
The Nuclear Regulatory Commission took a big step Friday toward licensing New York's Shoreham nuclear power plant despite an agreement between the state and a utility earlier this week to close the embattled facility. In a 4-0 vote, the commission upheld a decision by one of its licensing boards to dismiss state and local officials from NRC adjudicatory proceedings, effectively ending their effort to block an operating license for the Long Island plant.
March 1, 1989 |
Gov. Mario M. Cuomo and the president of Long Island Lighting Co. signed a tentative agreement Tuesday to close the $5.4-billion Shoreham nuclear power plant. It will be the first completed nuclear plant in the nation to be shut down without ever generating electricity for its customers.
February 15, 1989
The Long Island Lighting Co. agreed to $400 million in rate reductions and refunds to settle a racketeering lawsuit accusing the utility of lying to obtain more money from customers for its Shoreham nuclear power plant. The settlement of the suit, which had threatened to drive LILCO into bankruptcy, did not resolve the fate of the still-unlicensed and financially troubled Shoreham plant.