Well-paid, well-respected CFO takes over LIPA’s books

Count on it: New Long Island Power Authority CFO Tamela Monroe is worth her record-high salary, according to energy-industry insiders.
By GREGORY ZELLER //

The Long Island Power Authority’s new CFO is no stranger to major-league utility operations – or to LIPA.

The power authority’s Board of Trustees has named Tamela Monroe as LIPA’s new chief financial officer, an official coronation that solidifies the veteran administrator’s already-in-progress role as the regional utility’s primary accountant.

Monroe – who boasts 35 years of public-power experience, including senior-level positions at two of the nation’s largest utilities – has served as senior advisor for finance to LIPA Chief Executive Officer Thomas Falcone and Chief Information Officer Mujib Lodhi, the interim CFO, since early July.

When she officially becomes CFO on Sept. 1, she’ll rake it in: Monroe’s record-high $325,500 annual salary is the largest on LIPA’s books, besting even Falcone’s handsome remuneration.

Thomas Falcone: Flat chance with Monroe.

The investment buys LIPA more than three decades’ worth of world-class financial and operations experience. The veteran of Colorado Springs Utilities and the Omaha Public Power District has directed accounting, auditing, pricing, rate-design, load-forecasting and other critical functions for electric, gas, water and wastewater utilities servicing nearly 1 million Intermountain customers.

With a résumé like that, Monroe is sure to “build upon LIPA’s record of investing in customer service, clean energy and reliability while keeping electric bills flat,” according to Falcone.

“Her knowledge and experience with strategic planning, oversight, financial markets, regulatory agencies and more make her the perfect choice to lead LIPA’s financial future,” the CEO added. “I know she will be a true advocate for our customers.”

That’s the plan, said Monroe, a Creighton University MBA who called it an “honor to serve” as LIPA pursues ambitious clean-energy and pricing goals.

“It is a privilege to be part of a dedicated team of public servants who provide Long Island with the clean, reliable and affordable electricity,” Monroe added.

The regional power authority and the ratepayers it serves couldn’t have a better champion to lead those initiatives, according to John DiStasio, president of the Large Public Power Council, a Washington-based lobbying bloc of 27 nationwide public utilities, including the New York Power Authority and LIPA.

“Tamela brings to LIPA a record of financial leadership that is hard to match in the utility sector,” DiStasio said in a statement. “I can’t imagine a better pick for LIPA, especially during this exciting time in Long Island’s transition to cleaner fuel sources.”