News Release Date: September 19, 2008

LIPA President & CEO Kevin Law, Congressman Steve Israel
Convene Long Island’s First “Green Lending” Summit

Uniondale, NY – Executives from nearly twenty of the region’s top banks and credit unions will meet with LIPA President & CEO Kevin S. Law and U.S. Congressman Steve Israel on Monday to discuss partnership opportunities, the expansion of energy efficiency improvements and renewable energy systems, and the potential for special, low-interest financing options to assist homeowners and businesses contemplating these capital projects.

LIPA offers considerable rebates and incentives to customers for projects like these, including the installation of photo voltaic (solar) energy systems, and will expand on those efforts next year through the launch of Efficiency Long Island, a ten-year, one billion dollar investment.

"Even with the hefty incentives and rebates LIPA offers, which can offset as much as 50% of the costs in some cases, these improvements can still be very costly for our customers,” said Law. “That’s why we are looking to partner with the Long Island lending community and to begin a dialogue, with the ultimate goal of creating a source for low-interest financing for many of these improvements.”

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. LIPA is the 2nd largest municipal electric utility in the nation in terms of electric revenues, 3rd largest in terms of customers served and the 7th largest in terms of electricity delivered. In 2010, LIPA outperformed all other overhead electric utilities in New York State for frequency of service interruptions, and ranked second for duration of service interruptions. LIPA does not provide natural gas service or own any on-island generating assets. More information about LIPA can be found online at: http://www.lipower.org.

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Media Contact Information
Mark Gross
Phone - (516) 719-9892
Media Pager - (516) 229-7248
media.relations@lipower.org


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