Long Island Lighting Company
From Wikipedia, the free encyclopedia
| Long Island Lighting Company | |
|---|---|
 |
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| Slogan | "We're working harder to Serve you better, We're Lilco." |
| Fate | Purchased by LIPA |
| Successor | Long Island Power Authority |
| Founded | Long Island, New York (1911) by E. L. Philips & George W. Olmsted |
| Defunct | 1998 |
| Location | Hicksville, New York, United States of America[1] |
| Industry | Public (NYSE: LILC) |
| Products | Electrical & natural gas utility[1] in Nassau, Suffolk and Queens Counties, on Long Island, New York[1] |
| Key people | W. J. Catacosinos, Chairman & CEO, J. T. Flynn, President & COO, A. Nozzolillo, Sr. VP-Finance & CFO, T. A. Babcock, Treasurer, K. A. Marion, Corporate Secretary |
| Former Parent | Long Island Power Authority |
The Long Island Lighting Company, or LILCo [ "lil-co" ], was an electrical power company and natural gas utility for the communities of Long Island, New York, serving 2.7 million people in Nassau, Suffolk and Queens Counties.[1]
LILCo was the original power utility for Long Island from 1911 until 1998. It was founded by E. L. Philips, an engineer, and a group of New York City investors, including George W. Olmsted,[2] when they purchased four small electric companies in Amityville, Islip, Northport and Sayville.[3]
Almost from its inception, LILCO's rate payers and local politicians were upset by E. L. Philips' annual salary of $5,000(US), an unheard of sum in 1915, when he voted himself this sum.
LILCO is notable for building the Shoreham Nuclear Power Plant. In the end, in a political decision based on evacuation plans, the plant operated only briefly and then was closed down and bought by the Long Island Power Authority (LIPA), a public authority.
Hurricane Gloria hit Long Island on September 27, 1985, but power was not fully restored until October 8. The bitterness from the delays in restoring power helped bring down the Shoreham Plant and eventually helped force the sale of the company.[3]
On March 5, 1998, final Federal approval was received for LIPA to take over LILCO. The deal was completed later that year.
[edit] References
- ^ a b c d Company profile at Business.com
- ^ "Long Island Lighting Co. Mortgage," New York Times (1857-Current file); 4 June 1911, pg. XX7; ProQuest Historical Newspapers The New York Times (1851 - 2003). Retrieved 30 March 2007.
- ^ a b Long Island Our Story, New York Newsday
