The company will manage power transmission and distribution operations, customer services, LIPA’s 18% ownership of Nine Mile Point 2 Nuclear Station in upstate New York, and related functions.

Lockheed Martin, a subcontractor to PSEG Long Island, will be responsible for providing transition management, information technology, corporate business, energy efficiency services and other services.

As part of the contract, PSEG said it will develop and implement operational improvements to provide reliable service, increase customer satisfaction and manage the operational and maintenance costs of the utility.