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For Immediate Release: February 22, 2013

Statement from Long Island Power Authority in Response to Newsday Article

The Long Island Power Authority (LIPA) issued a statement in response to the Newsday article that ran today about LIPA’s contracts being reviewed.

"LIPA has a rigorous procurement process that exceeds the requirements under state law and believes all of its contracts are in its customers' best interest. LIPA's contracts have been subject to numerous layers of review, approval, oversight and audit by various state, federal and other entities over the years, including LIPA's Board of Trustees, the Attorney General, the State Comptroller, the Public Authorities Control Board, and the Federal Energy Regulatory Commission. LIPA's contracts and business practices have also been subject to various audits over the years, not only by the State Comptroller, but by other independent experts, many of which have been conducted at LIPA's request in the ordinary course. LIPA is continually focused on ensuring that its contracts have been executed with the goal of providing the best value for its customers, and although LIPA did not request any additional review at this time, we welcome any opportunity to demonstrate the integrity of our procurement process and contracts."

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 2011, LIPA outperformed all other overhead electric utilities in New York State for frequency and 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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