O&R Chastised and Moving Forward

Fortnightly Magazine - July 15 1996
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The New York Public Service Commission (PSC) has approved an

$8.5-million refund for customers of Orange & Rockland Utilities, Inc. (O&R) in light of improprieties committed by some of the utility's former senior executives (Case 96039/95E0491). Since the investigation began, O&R has terminated or retired eight of 11 senior managers and replaced its external auditing firm. The PSC also required O&R to create positions for an inspector general and an ethics officer.

Recharge the Economy with Renewable Energy Tax Credits

The refund concludes a PSC investigation of O&R's former vice president of external affairs, who was arrested in 1993 and charged with contributing to political campaigns under a false name, grand larceny, and commercial bribery. Two other former employees were also arrested and charged with embezzlement. The investigation uncovered inappropriate invoices, expense accounts, and excess costs associated with senior management compensation.

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