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Upcoming Event:
Wednesday, June 26, 2024 | 9:00 AM – 10:00 AM – Finance and Audit Committee Meeting – LIPA, 333 Earle Ovington Blvd. 4th Floor, Uniondale, NY 11553

Strategic Direction

The LIPA Board provides strategic direction through a set of governance policies. The Board’s policies define LIPA’s purpose and vision and set expectations for the strategic outcomes that management will deliver in the areas of reliability, customer experience, clean energy, affordability, information technology, and fiscal sustainability. The Board reviews each of its policies annually, and LIPA management reports on outcomes in reports to the Board for each policy.

LIPA’s Key Policy Objectives

  • Top 10% reliability among peer utilities
  • Improve circuit conditions that cause repeated customer outages
  • Invest in system resiliency to reduce outages and restoration times from severe weather
  • Independently verify and validate PSEG Long Island’s emergency restoration planning
  • Deliver top 25% customer satisfaction in J.D. Power studies
  • Continual improvement in ease of customer interaction, as measured by customer surveys
  • Invest in technology to enhance the convenience of billing, payments, appointments, emergency restorations, etc.
  • Deploy modern grid management technology and data analytics benchmarked to the top 25% of utilities
  • Protect digital infrastructure and customer data, as measured by an annual independent assessment of cybersecurity practices
  • Clearly communicate customer information collection policies
  • 70% renewable energy by 2030
  • Zero-carbon electric grid by 2040
  • Encourage beneficial electrification of transportation and buildings (i.e., electric vehicles and cold climate heat pumps)
  • Maintain regionally competitive electric rates
  • Prioritize investments to balance cost and service quality
  • Maintain affordable electric bills for low-income customers and disadvantaged communities
  • Achieve AA-category credit ratings by 2030 by reducing LIPA’s debt-to-assets ratio from 90%+ to 70% or less
  • Maximize grants and low-cost funding sources
  • Develop budgets and financial plans that maximize customer value and aggressively manage costs
  • Provide LIPA’s customers and investors with timely, transparent, accurate, and useful information to evaluate LIPA’s financial performance and plans
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2024 Transparency Plan

LIPA is committed to providing customers and stakeholders with a transparent view of our operations and decisions in service to our 1.2 million customers on Long Island and the Rockaways.