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KeySpan Corporation was the fifth largest distributor of natural gas in the United States. KeySpan was formed in 1998 as a result of the merger of Brooklyn Union Gas Company (founded 1895 by merging several smaller companies) and Long Island Lighting Company (LILCO), and briefly operated under the name MarketSpan following the merger. [ 1 ]
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KeySpan merged with National Grid USA in 2007, and National Grid began operating the electric infrastructure portion of LIPA business until 2013. Since January 1, 2014, LIPA has contracted with New Jersey–based Public Service Enterprise Group to operate LIPA's electric infrastructure on LIPA's behalf for a period of 12 years. [3]
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In 2004, KeySpan constructed a new unit, Ravenswood 40, using combined cycle technology with generating capacity of 250 megawatts. National Grid plc acquired KeySpan in 2007 [ 4 ] but due to its involvement in electrical transmission the New York Public Service Commission required National Grid to sell Ravenswood to ensure competition in the ...