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CMS Energy Reveals LILCO Role
CMS Energy Corp. has come clean as the "unnamed" potential investor in the plan announced in June by the Long Island Power Authority (LIPA) to acquire the Long Island Lighting Co. (LILCO).
CMS had not revealed its involvement in the proposed takeover before because its participation through a management services agreement is conditioned on the support of N.Y. Gov. Pataki. The company said it still is interested in providing the management services if the governor and other state officials decide a takeover is in the best interests of the citizens of Long Island.
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