Long Island Power Authority
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| Please help improve this article or section by expanding it. Further information might be found on the talk page or at requests for expansion. (June 2007) |
| Long Island Power Authority | |
|---|---|
| Image:LIPA.gif | |
| Type | Non-profit Entity, State Owned |
| Founded | 1985 |
| Founder | New York State: Long Island Power Act of 1985 |
| Headquarters | Uniondale Long Island, NY, USA |
| Area served | Nassau, Suffolk and Queens Counties, on Long Island, New York |
| Key people | Kevin Law, Chairman , CEO, and President |
| Industry | Energy industry |
| Services | Electricity |
| Revenue | $3,664,976,000 (2006) |
| Operating income | $364,231,000 (2006) |
| Net income | $118,170,000 (2006) |
| Owner | Non-profit |
| Parent | The State of New York |
| Slogan | “More choice… Better service!” [1] |
| Website | www.lipower.org |
The Long Island Power Authority or LIPA [ "lie-pah" ], a municipal subdivision of the State of New York, was created under the Long Island Power Act of 1985 to acquire the Long Island Lighting Company (LILCO)'s assets and securities. A second Long Island Power Authority (LIPA), a wholly owned subsidiary of the first, acquired LILCO's transmission and distribution system in May 1998.
LIPA, a non-profit municipal electric utility, owns the retail electric system on Long Island and provides electric service to over 1.1 million customers in Nassau and Suffolk counties, and the Rockaway Peninsula in Queens. LIPA does not own any electric generation assets on Long Island, and it does not provide natural gas service.
On January 24 2007 Governor Eliot Spitzer announced that Kevin Law would replace Richard Kessel as Chairman of LIPA until the fall when a new Chairman would be named and Mr. Law would become Chief Executive Officer of LIPA. On October 8, 2007 Mr. Law took over as President and CEO.
[edit] See also
[edit] References
LIPA (2007-01-24). About the Long Island Power Authority (Web). LIPA. Retrieved on 2007-11-19.
