Long Island Power Authority, commonly abbreviated as LIPA ("lie-pah"), is a municipal subdivision of the State of New York that oversees PSEG Long Island, the electricity service provider for most of Long Island. LIPA was originally created under the Long Island Power Act of 1985 to acquire the Long Island Lighting Company (LILCO)'s assets and securities after the cancellation of the Shoreham Nuclear Power Plant. A second Long Island Power Authority (LIPA), a wholly owned subsidiary of the first, acquired LILCO's transmission and distribution system in May 1998.