LIPA acquired LILCO 's transmission and distribution system in May 1998 .
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 .
LIPA acquired LILCO 's transmission and distribution system in May 1998 .
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 .