New York Governor Andrew Cuomo has directed a special counsel to investigate the feasibility of a public takeover of the Long Island water company with the most expensive prices in the region.
State regulators had expected to consider the sale of New York American Water to another private company, Liberty Utilities, for $608 million.
Cuomo said the pending sale sparked interest from local officials and residents about a public takeover to lower rates and better performance.
The feasibility study would be released in April with recommendations for how to reduce customer costs.
However, if the sale is approved, Liberty Utilities would add 120,000 Long Island customers to its 14-state operation — becoming the largest utility in New York once the sale is closed.
