LIPA's Long Island electric system provides service to over 1.2 million customers in Nassau and Suffolk counties and the Rockaway Peninsula in Queens.

LIPA is listed as the "Owner, Operator and/or Billing Organization" for 27 electric power generation facilities located on Long Island in the 2018 NYISO Gold Book, for a total of about 5,048 megawatts (MW) of nameplate capacity.

Tracey Edwards is the Chairwoman of LIPA's Board of Trustees, appointed by Governor Kathy Hochul in November 2023.

[6] The New York State Public Service Commission runs its own field office on Long Island to enforce this recommendation and inspection capability.

In 1998, as part of a state-brokered deal, LILCO's power generation facilities were absorbed into KeySpan Energy, with LIPA taking over transmission and delivery functions.

[25] The Utility Debt Securitization Authority is a separate New York State public-benefit corporation run by a governor-appointed board of trustees that is responsible for LIPA's financial reporting.

[citation needed] In 2012 and 2013, LIPA and National Grid caught much media criticism in their response to Hurricane Sandy.

[citation needed] In May, he announced a plan to give PSEG day-to-day operations of LIPA's electric grid under a management contract.

[34] A bill was introduced in 2016 that would enhance rate setting abilities by the New York State Public Service Commission.