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Dutchess County Resident Honored as Power Authority Woman Leader

Contact:
Maura Balaban
914-390-8171
maura.balaban@nypa.gov

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FOR IMMEDIATE RELEASE

NEW YORK—The New York Power Authority (NYPA) today congratulated Lisa Cole, a resident of Wappingers Falls in Dutchess County, for being selected as the NYPA 2008 Woman Leader. She was honored at the 35th Annual Academy of Women Leaders Salute Lunch, sponsored by the YWCA of the City of New York, Monday, at the Hilton New York hotel.

As NYPA’s deputy treasurer, Cole is responsible for the day-to-day operations of the Power Authority’s treasury group. She manages annual cash flows of three billion dollars; $2.2 billion in outstanding debt; an investment portfolio of more than two billion dollars; and other financial instruments of more than one billion dollars.

Cole began her NYPA career in 1989 as a clerk at NYPA’s formerly-owned Indian Point 3 Nuclear Power Plant in Westchester County.  She eventually made her way to the plant’s accounting department and then transferred to the finance group in White Plains days before NYPA sold its nuclear assets to Entergy Corp. in 2000. Working as a treasury analyst, Cole rose rapidly through several positions of increasing responsibility to her current position.

“Lisa’s career trajectory at NYPA is nothing short of astounding,” said NYPA President and CEO Richard M. Kessel.  “The Power Authority is fortunate to have such an accomplished and dedicated employee. We are proud to recognize her hard-earned successes and will continue to support and cultivate her professional growth as well as the development of all our work force.”

In the past year, Cole, who was nominated by the Power Authority’s senior managers, has been involved in a number of significant projects in the treasury group, including a $600 million bond issue to finance relicensing and upgrade costs of NYPA’s hydro-electric plants and the establishment of a $225 million Post-Employment Benefits Trust. This separately managed trust fund, one of the first of its kind for public power entities in the United States, will provide security for the health benefits due retirees while saving tens of millions of dollars in costs to NYPA.

Cole completed her Bachelor of Arts in Accounting from Excelsior College in Albany while working at NYPA, and all her coursework for a Master of Business Administration from Mt. St. Mary’s College in Newburgh. It is anticipated she will receive the postgraduate degree next month.

“It’s been a long trek,” said Cole. “As a single mother, I always wanted my children to have an amazing life and I knew I couldn’t provide them with one unless I worked very hard. But it never would have been possible without the great people in NYPA’s treasury group. I owe them a great debt of gratitude. I couldn’t have been luckier.”

About NYPA:

■    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 a leader in promoting energy efficiency, new energy technologies and electric transportation initiatives.  ■    It is the nation’s largest state-owned electric utility, with 18 generating facilities in various parts of the state and more than 1,400 circuit-miles of transmission lines.  ■    For more information, www.nypa.gov.

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