LIPA Saved Over $20 Million During Summer with Neptune Cable Bringing Low Cost Power from New Jersey to Long Island

New Cassel, NY—October 11, 2007—The Long Island Power Authority (LIPA) today announced that it saved over $20 million this summer by using the new Neptune electric transmission cable to bring nearly 1.2 million megawatt hours (MWh) of low cost power to Long Island during the peak summer season in July, August and September when demand for electricity is highest.

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	October 11, 2007 Release



“This historic power project has given Long Island direct access to a lower cost, more diversified power supply in the Pennsylvania, New Jersey and Maryland (PJM) power market that stretches from New Jersey to Illinois,” said LIPA President and CEO Kevin S. Law.

"The Neptune Project is an example of how this type of HVDC technology can bring much-needed electric power and transmission infrastructure to densely populated areas in a cost-effective and environmentally friendly way," said Edward M. Stern, Neptune's President and Chief Executive Officer.


“We are grateful for the commitment from Neptune and LIPA to the community, ” said Jon Kaiman, Town of North Hempstead Supervisor.

"This project, the first 500 kV submarine cable connection ever realized using environmentally friendly mass impregnated paper cable, further confirms Prysmian's worldwide expertise in the submarine cable sector.,” said Hans Nieman, Prysmian Cables & Systems.

“When we first proposed the idea of an Atlantic cable in early 2003, the critics doubted it could be done. Through the hard work and dedication of a great many people at LIPA, Neptune and KeySpan personnel, and the regulatory entities involved with the review and approval of this project, Long Island will be well served by the Neptune cable for decades to come,” said former LIPA Chairman Richard M Kessel.

"As urban areas worldwide face critical power shortages, LIPA and other utilities recognize that HVDC technology is technically advantageous over traditional AC methods for accessing the grid, connecting to renewable energy sources and strengthening grid reliability," said Dave Pacyna, president and CEO of Siemens Power Transmission & Distribution, Inc.

"When I came to examine the construction of this project I saw what should be the standard applied for all projects in New York," said Robert Curry, New York State Public Service Commission.

"Not only is this is a big day in energy delivery on Long Island, but the history of Long Island," said Philip Moeller, Federal Regulatory Commission

"It is very difficult to build infrastructure across the country, but today this project is a example that we can accomplish the projects we need to with the right leadership" said Marc Spitzer, Federal Regulatory Commission