We've been there and done that. Privatization is not being considered because the original private utility, the Long Island Lighting Company (LILCO), owned and operated the electric grid. There were many problems with this company, including fiscal mismanagement that almost led to bankruptcy a few times and ended with avoiding actual bankruptcy when the not-for-profit Long Island Power Authority was created to take on LILCO's debt. Only $4.5 billion of the $7.3 billion debt was due to the Shoreham nuclear power plant fiasco.When LILCO's debt was taken over by LIPA in 1986, it was able to refinance the debt at a lower interest rate. The charter that set up LIPA as a public authority stipulated it would not be regulated by the Public Service Commission (PSC), which regulates all the private utilities in New York State. Instead it is overseen by the Long Island division (DPS-LI) of the Department of Public Service of which the PSC is a part.This allows LIPA to borrow money at low interest rates via municipal bonds.Privatization now would also be more expensive. Returning to privatization would automatically require the refinancing of the current LIPA debt of $10 billion at a higher interest rate that would cause rate hikes. In addition, a private company would need to charge ratepayers more in order to make a profit and pay taxes. It would also answer to stockholders more than ratepayers. Private utilities are also ineligible to receive Federal Emergency Management (FEMA) funds, while LIPA is and has already received and utilized FEMA grants to harden our electric grid. This is a lose, lose, lose proposition. Privatizing our electric system would have all harms and no benefits.However, based on previous studies, such as the Moreland Report and LIPA's 2021 Options Study, a fully public LIPA operating all aspects of the electric system is the best way to go for the ratepayer.