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June 27, 2012

 

DiNapoli Approves $3.9 Billion LIPA Contract

Customer Satisfaction and Storm Response Should Be First-Rate

State Comptroller Thomas P. DiNapoli today announced he has approved a 10-year, $3.9 billion contract between PSEG Long Island, LLC (PSEG) and the Long Island Power Authority (LIPA) to manage Long Island's regional electric grid.

"To protect ratepayers, my office ensured that a thorough, competitive process took place. This resulted in three bids and an award to the lowest-cost and highest-quality bidder," DiNapoli said. "LIPA must be rigorous in its management of this contract and carefully track customer satisfaction."

Going forward, DiNapoli said, his office will vigorously exercise its right to audit LIPA for cost controls and proper monitoring of PSEG's storm and emergency response. "LIPA needs to aggressively plan for and monitor PSEG to make sure its storm and emergency responses are unsurpassed," he said.

LIPA's current contract with National Grid ends December 31, 2013. The approved contract takes effect immediately.



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