November 8, 2012 / 6:26 PM / 5 years ago

New York's Cuomo blasts utilities as monopolies needing redesign

NEW YORK, Nov 8 (Reuters) - Storm damage to the electricity distribution system in the U.S. Northeast exposed deep flaws in the structure and regulation of power utilities that will require a complete redesign, New York Governor Andrew Cuomo said on Thursday.

“We’re going to have to look at a ground up redesign,” Cuomo said while criticizing utilities he said were virtual monopolies run by nameless and faceless bureaucrats.

“The utility system we have was designed for a different time and for a different place,” Cuomo told a news conference. “It is a 1950s system. ... They have failed the consumers. The management has failed the consumers.”

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