The Long Island Power Authority (LIPA) voted to extend its contract with PSEG amidst a controversial search for a new grid manager due to financial ties between board member John Rhodes and Quanta Services, a candidate for the role. Rhodes was found to have owned stock in Quanta while pushing their proposal over PSEG's. After the backtracking from a competitive bidding process, the contract extension leaves PSEG managing the power grid, despite criticisms regarding its performance during past outages.
The LIPA board discovered undisclosed stocks during an April review, leading to a sudden extension decision that sidelined competitive bidding.
Despite Rhodes advocating Quanta for better metrics, the board's skepticism and the revelation of financial ties led to the rejection of the new contract.
Collection
[
|
...
]