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NEWS

NYPA Trustees Elect Robert F. Lurie as Power Authority's Chief Financial Officer

Contact:
Maura Balaban
(914) 390-8171
Maura.Balaban@nypa.gov

May 22, 2014

FOR IMMEDIATE RELEASE

Hi Res

Photo Credit: NYPA

WHITE PLAINS—The New York Power Authority (NYPA) Trustees on Thursday, May 22, elected Robert F. Lurie to serve as NYPA’s executive vice president and chief financial officer, responsible for overseeing the financial operations of the statewide public power utility, which owns and operates 16 power plants and more than 1,400 circuit-miles of transmission lines.

Lurie’s duties will include forecasting and budgeting, financial planning and controls, managing investment programs and debt, and leading the enterprise risk and physical asset insurance-risk management activities. In addition, he will also oversee NYPA’s strategic planning, treasury, and controller functions.

Lurie has nearly 30 years of experience in the utility industry, government and investment banking. His varied career in the public and private sectors has included serving as the director of public finance for the State of New Jersey, overseeing the financial activities of multiple state authorities; treasurer of NUI Corporation, a gas utility in New Jersey, and as chief of Strategic Planning at the Port Authority of New York and New Jersey, from 2003 through 2007, developing a 10-year, multibillion dollar strategic capital plan.

He joined the Power Authority in 2012 as senior vice president for Strategic Planning and led a management team effort in creating NYPA’s new strategic plan, Strategic Vision 2014-2019, issued in March.

For further information on Lurie’s new position and background, please visit http://www.nypa.gov/about/officers/lurie.html.

About NYPA:

■ The New York Power Authority has been designated as the lead entity via Executive Order 88 by Gov. Andrew M. Cuomo to form a central management and implementation plan to carry out his Build Smart NY plan to reduce energy use by state facilities by 20 percent by 2020. ■ NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity.■ NYPA is the nation's largest state public power organization, through the operation of its 16 generating facilities in various parts of New York State, participation in a unique public/private partnership to contract for power from a clean generating plant in Queens, and its operation of more than 1,400 circuit-miles of transmission lines. ■ More than 70 percent of the electricity NYPA produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state.■ For more information visit www.nypa.gov and follow us on Twitter @NYPAenergy, Facebook, Instagram, Wordpress, and LinkedIn.