PSEG Long Island to Continue Serving Long Island and the Rockaways for the Next Five Years
PSEG (NYSE:PEG) has secured a five-year contract extension from the Long Island Power Authority (LIPA) Board of Trustees to continue operating the electric grid on Long Island and in the Rockaways. The extension will run from January 1, 2026, through December 31, 2030, pending approval from New York State officials.
Since beginning operations in 2014, PSEG Long Island has achieved significant improvements, including a 35% reduction in outage frequency, 21% reduction in outage duration, and a 75% improvement in workforce safety. The company has become the top overhead electric service provider in New York State for reliability and customer satisfaction, maintaining the lowest rate increases compared to regional peers.
PSEG (NYSE:PEG) ha ottenuto un'estensione quinquennale del contratto dal Consiglio di Amministrazione della Long Island Power Authority (LIPA) per continuare a gestire la rete elettrica su Long Island e nei Rockaways. L'estensione avrà effetto dal 1 gennaio 2026 al 31 dicembre 2030, in attesa dell'approvazione delle autorità dello stato di New York.
Dall'inizio delle operazioni nel 2014, PSEG Long Island ha conseguito notevoli miglioramenti, tra cui una riduzione del 35% della frequenza delle interruzioni, una riduzione del 21% della durata delle interruzioni e un miglioramento del 75% della sicurezza sul lavoro. L'azienda è diventata il principale fornitore di servizi elettrici aerei nello Stato di New York per affidabilità e soddisfazione dei clienti, mantenendo i più bassi aumenti delle tariffe rispetto ai concorrenti regionali.
PSEG (NYSE:PEG) ha asegurado una extensión de contrato de cinco años por parte de la Junta de Fideicomisarios de la Long Island Power Authority (LIPA) para continuar operando la red eléctrica en Long Island y en Rockaways. La extensión entrará en vigor desde 1 de enero de 2026 hasta el 31 de diciembre de 2030, sujeto a la aprobación de las autoridades del estado de Nueva York.
Desde que inició operaciones en 2014, PSEG Long Island ha logrado mejoras significativas, incluyendo una reducción del 35% en la frecuencia de interrupciones, una reducción del 21% en la duración de las interrupciones y una mejora del 75% en la seguridad de la fuerza laboral. La empresa se ha convertido en el principal proveedor de servicios eléctricos aéreos en el estado de Nueva York en fiabilidad y satisfacción del cliente, manteniendo los menores aumentos de tarifas en comparación con pares regionales.
PSEG (NYSE:PEG)가 Long Island Power Authority(LIPA) 이사회로부터 전력망 운영 계약을 5년 연장받아 롱아일랜드와 Rockaways의 전력망 운영을 계속하게 되었습니다. 연장은 2026년 1월 1일~2030년 12월 31일 사이에 효력을 발휘하며, 뉴욕주 당국의 승인이 필요합니다.
2014년 운영을 시작한 이후 PSEG Long Island는 정전 빈도 35% 감소, 정전 지속 시간 21% 감소, 작업 안전성 75% 향상 등의 중대한 개선을 달성했습니다. 이 회사는 신뢰성과 고객 만족도 면에서 뉴욕주 내 최고의 고압 전력 서비스 제공업체로 자리매김했으며, 지역 동료 대비 가장 낮은 요금 인상을 유지하고 있습니다.
PSEG (NYSE:PEG) a obtenu une prolongation de contrat de cinq ans de la part du conseil d'administration de la Long Island Power Authority (LIPA) pour continuer à exploiter le réseau électrique sur Long Island et dans les Rockaways. La prolongation entrera en vigueur du 1er janvier 2026 au 31 décembre 2030, sous réserve de l'approbation des autorités de l'État de New York.
Depuis le début de ses activités en 2014, PSEG Long Island a enregistré des améliorations significatives, dont une réduction de 35 % de la fréquence des pannes, une réduction de 21 % de la durée des pannes et une amélioration de 75 % de la sécurité du personnel. L'entreprise est devenue le principal prestataire de services électriques aériens dans l’État de New York en matière de fiabilité et de satisfaction client, en maintenant les plus faibles hausses tarifaires par rapport à ses pairs régionaux.
PSEG (NYSE:PEG) hat eine fünfjährige Vertragsverlängerung vom Vorstand der Long Island Power Authority (LIPA) erhalten, um das elektrische Netz auf Long Island und in den Rockaways weiter zu betreiben. Die Verlängerung tritt vom 1. Januar 2026 bis zum 31. Dezember 2030 in Kraft, vorbehaltlich der Genehmigung durch die Behörden des Bundesstaates New York.
Seit Betriebsaufnahme im Jahr 2014 hat PSEG Long Island bedeutende Verbesserungen erzielt, darunter eine 35%-Reduzierung der Ausfallhäufigkeit, eine 21%-Reduzierung der Ausfalldauer und eine 75%-ige Verbesserung der Arbeitssicherheit. Das Unternehmen ist zum führenden Anbieter von Oberleitungs-Elektroservice im Bundesstaat New York für Zuverlässigkeit und Kundenzufriedenheit geworden und verzeichnet im Vergleich zu regionalen Mitbewerbern die niedrigsten Tariferhöhungen.
PSEG (NYSE:PEG) حصلت على تمديد عقد لمدة خمس سنوات من مجلس محافظي هيئة Long Island Power Authority (LIPA) لمواصلة تشغيل شبكة الكهرباء في Long Island و Rockaways. سيبدأ سريان التمديد من 1 يناير 2026 حتى 31 ديسمبر 2030، رهناً بموافقة مسؤولي ولاية نيويورك.
منذ بدء التشغيل في 2014، حققت PSEG Long Island تحسناً ملحوظاً، بما في ذلك خفضاً بمقدار 35% في وتيرة الانقطاعات، خفضاً بمقدار 21% في مدة الانقطاعات، و< b>تحسناً بمقدار 75% في السلامة المهنية. أصبحت الشركة المزود الرائد لخدمات الكهرباء العلوية في ولاية نيويورك من حيث الموثوقية ورضا العملاء، مع الحفاظ على أدنى زيادات في الأسعار مقارنة بنظرائها الإقليميين.
PSEG (NYSE:PEG) 已获得 Long Island Power Authority (LIPA) 董事会的五年合同延期，以继续在长岛及 Rockaways 运营电网。延期自2026年1月1日到2026年12月31日，待纽约州官员批准。
自2014年投入运营以来，PSEG Long Island 实现了显著改进，包括< b>停电频率降低35%、停电持续时间降低21%、以及员工安全性提升75%。该公司已成为纽约州在可靠性与客户满意度方面的顶级架空电力服务提供商，并且在与区域同行相比的费率增幅方面保持最低水平。
- 35% reduction in frequency of outages (SAIFI) and 21% reduction in duration of outages (SAIDI)
- 75% improvement in workforce safety metrics
- Achieved lowest DPS Complaint Rate for Electric Utilities in NY State for 9 out of 11 years
- Secured lowest rate increases compared to regional peers
- Ranked as Most Improved in J.D. Power Customer Satisfaction scores nationally
- None.
Insights
PSEG secures key 5-year contract extension with LIPA, ensuring continued revenue stability from its Long Island operations.
PSEG has secured a significant operational extension that provides important revenue visibility and continuity for the company. The Long Island Power Authority's decision to extend PSEG Long Island's contract for an additional five years (2026-2030) represents a vote of confidence in the company's operational performance over the past 12 years.
This extension is strategically valuable as it maintains PSEG's foothold in the critical New York market without requiring a competitive rebidding process. The metrics shared in the announcement demonstrate meaningful operational improvements under PSEG's management, including a
For investors, this extension provides predictable cash flow from the Long Island operation through 2030. While the exact financial terms aren't disclosed, the contract represents a substantial business segment for PSEG. The company's achievement of being the top overhead electric service provider in New York for reliability and customer satisfaction strengthens its position for future contract renewals and potential expansions.
The noted improvements in workforce safety (over
LIPA Board of Trustees awards PSEG Long Island extension of existing contract for five years continuing the successful partnership for the last 12 years.
NEWARK, N.J., Sept. 25, 2025 /PRNewswire/ -- The Long Island Power Authority Board of Trustees has awarded PSEG Long Island an extension on the existing contract to continue to operate the electric grid on
PSEG Long Island, a subsidiary of PSEG, has operated the electric grid on
"PSEG is proud to continue its successful partnership with LIPA for the next five years and continue to provide outstanding electric service on
Now that the LIPA Board of Trustees has voted, the contract extension will need to be approved by the
Since 2014, PSEG Long Island has:
- Improved reliability with the reduction in the frequency of outages by
35% (SAIFI), the reduction in the duration of outages by21% (SAIDI) and the reduction in the frequency of momentary outages by63% (MAIFI). - Improved the safety of its workforce by over
75% (as measured by OSHA Recordable Incident Rate). - Lowest DPS Complaint Rate for Electric and Combined Utilities in
New York State for nine out of the last 11 years. - Most Improved in J.D. Power Residential and Business Customer Satisfaction scores in the nation.
- The lowest rate increases for customers when compared to regional peers.
PSEG is looking forward to continuing the successful partnership with LIPA over the next five years and continuing to improve reliability and customer satisfaction on
About PSEG
Public Service Enterprise Group (PSEG) (NYSE: PEG) is a predominantly regulated infrastructure company focused on a clean energy future. Guided by its Powering Progress vision, PSEG aims to power a future where people use less energy, and it's cleaner, safer and delivered more reliably than ever. With a continued focus on sustainability, PSEG has appeared on the Dow Jones Sustainability North America Index for 17 consecutive years. PSEG is included on the 2023-2024 list of
Forward-Looking Statements
The statements contained in this press release that are not purely historical are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management. Factors that may cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission (SEC), and available on our website: https://investor.pseg.com. All of the forward-looking statements made in this press release are qualified by these cautionary statements and we cannot assure you that the results or developments anticipated by management will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward-looking statements made in this press release apply only as of the date hereof. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws.
CONTACTS:
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pseg-investorrelations@pseg.com
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FAQ
What is the duration of PSEG Long Island's new contract extension with LIPA?
What improvements has PSEG Long Island (NYSE:PEG) achieved in service reliability since 2014?
How has PSEG Long Island's safety record improved since taking over operations?
What regulatory approvals are needed for PSEG's contract extension with LIPA?
How has PSEG Long Island's customer satisfaction performance compared to other utilities?
