Thomas Falcone is the Chief Executive Officer of the Long Island Power Authority, the third-largest publicly owned electric utility in the United States. Mr. Falcone joined LIPA in 2014 as Chief Financial Officer and became CEO in 2015.
Since 2014, LIPA has reduced power outages by 35 percent, signed agreements for over 1,000 megawatts of clean and distributed energy, reformed and strengthened its management-services contract with PSEG Long Island, obtained four credit-rating upgrades, and invested over $4.9 billion in Long Island’s electric grid, while keeping electric rate adjustments below the rate of inflation.
Mr. Falcone serves on New York’s Climate Action Council, the 22-member board that adopts the plans to achieve the state’s greenhouse gas reduction targets, including a zero-carbon power sector by 2040 and an 85 percent reduction in statewide emissions by 2050.
Mr. Falcone is Vice Chair of the board of the Large Public Power Council and a member of the executive committee of the board of the Advanced Energy Research and Technology Center at Stony Brook University. Mr. Falcone also participates in the Energeia Partnership, a think-tank organization focused on challenges facing Long Island.
Prior to joining LIPA, Mr. Falcone was an investment banker and advisor to publicly owned utilities and state and local governments. In that role, Mr. Falcone raised more than $25 billion for infrastructure investments across the country. Mr. Falcone received a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania.