LIPA, a non-profit municipal electric provider, owns the retail electric Transmission and Distribution System on Long Island and provides electric service to more than 1.1 million customers in Nassau and Suffolk counties and the Rockaway Peninsula in Queens.
Our mission is to provide reliable, economical and responsive electric service to Long Island and the Rockaways, meet the expectations of our bond holders and be a trusted, valued member of the community. We will oversee the performance of our Service Provider, PSEG LI, and carry out our public service, fiscal and contractual duties faithfully, transparently and professionally.
As a not-for-profit instrumentality of the State of New York, the Authority is effectively owned by its customers. As such, the Authority is committed to serving its customers responsibly and effectively with strong emphasis on: (1) openness and transparency; (2) credibility and integrity; (3) professionalism and care in meeting the day-to-day obligations to customers through its Service Provider; (4) responsibility to its investors; (5) a work environment prizing excellence, safety and mutual respect, and (vi) productive relationships with stakeholders including Department of Public Service staff and Service Provider. The Authority recognizes and values its commitment to its lenders and business partners in providing financing and business services which are at the core of the Authority’s ability to meet its customer service obligations.
The Authority, in partnership with its electric Service Provider, PSEG LI and with the New York State Department of Public Service, will organize the resources necessary to provide highly reliable and economical electric service to its customers. The Authority will look to PSEG LI to prepare a budget and work-plan to carry out all day-to-day obligations to customers with the Authority maintaining vigilant oversight to ensure PSEG LI carries out these duties prudently and responsibly, in compliance with the terms and conditions of Amended and Restated Operations Services Agreement (“OSA”).