PSEG Long Island will continue to operate the electric grid for Long Island and the Rockaways after receiving a five-year contract extension from the Long Island Power Authority (LIPA) Board of Trustees. The current agreement, which was set to expire in December 2025, will now be extended from January 1, 2026, through December 31, 2030.
PSEG Long Island has managed the region’s electric grid since 2014 as a subsidiary of Public Service Enterprise Group (PSEG). The extension remains subject to approval by both the New York State Comptroller and the New York State Attorney General.
Ralph LaRossa, Chair of the Board, President and CEO of PSEG, said: “PSEG is proud to continue its successful partnership with LIPA for the next five years and continue to provide outstanding electric service on Long Island and in the Rockaways. Since 2014, PSEG Long Island has become the No. 1 overhead electric service provider in the State of New York in reliability and customer satisfaction.”
Since taking over operations in 2014, PSEG Long Island reports improvements including a 35% reduction in outage frequency (SAIFI), a 21% reduction in outage duration (SAIDI), and a 63% reduction in momentary outages (MAIFI). The company also notes improved workforce safety by over 75%, as measured by OSHA Recordable Incident Rate. Additionally, it claims to have had the lowest complaint rate among electric utilities regulated by New York’s Department of Public Service for nine out of eleven years and reports being recognized for improvements in J.D. Power Residential and Business Customer Satisfaction scores nationally. PSEG Long Island states that its customers have experienced lower rate increases compared to regional peers.
PSEG describes itself as an infrastructure company focused on clean energy initiatives. According to its website at https://corporate.pseg.com, PSEG has been listed on the Dow Jones Sustainability North America Index for seventeen consecutive years and is included on U.S. News’ list of Best Companies to Work For for 2023-2024.
The company says it aims to further improve reliability and customer satisfaction during this new contract period.
