Richard Kessel

Richard M. Kessel
Born	circa 1950
Occupation	Energy sector executive
Years active	1983–2011
Known for	President and CEO of the New York Power Authority; Chairman and CEO of the Long Island Power Authority

Richard M. Kessel (born circa 1950) is a seasoned executive in the energy sector and formerly served as President and CEO of the New York Power Authority, the largest publicly owned utility in the United States. His career began as a consumer advocate opposing the construction of the Shoreham Nuclear Power Plant by the Long Island Lighting Company (LILCO). Subsequently, Kessel assumed leadership roles as chairman and CEO of the Long Island Power Authority (LIPA), managing LILCO’s transition to public ownership in 1998 and overseeing the decommissioning of Shoreham. The New York Times characterized his transformation from a persistent critic to an energetic, hands-on leader.

Between 1983 and 1995, Kessel directed the New York State Consumer Protection Board, where he successfully negotiated rate freeze agreements with utilities such as Consolidated Edison and Niagara Mohawk, resulting in approximately $1 billion in consumer savings.

Governor Mario Cuomo appointed Kessel as LIPA chairman in 1989. In this capacity, he orchestrated the $1 acquisition and closure of Shoreham, a $5.5 billion nuclear facility that never generated commercial electricity. After stepping down from the chairmanship in 1995, he remained on LIPA’s board before returning to lead again in 1997 under Governor George Pataki.

Under Kessel’s leadership, LIPA completed a historic $7 billion municipal bond-financed acquisition of LILCO in 1998—the largest bond issuance of its kind in U.S. history. This initiative lowered electric rates by 20% and provided refunds to customers, alleviating some of the highest electricity costs nationwide.

In 2003, a New York State audit criticized LIPA during Kessel’s tenure for expenditures exceeding $45,000 on unauthorized political polling and payments over $500,000 to a contractor awarded contracts without competitive bidding over a fourteen-month period.

An inquiry by the New York State Office of the Inspector General into Kessel’s receipt of dual compensation as both LIPA chairman and president concluded in 2008 that his actions were proper, based on legal counsel and gubernatorial directives.

Governor Eliot Spitzer announced in January 2007 that Kevin Law would succeed Kessel as chairman of LIPA.

In September 2008, Kessel was named President and CEO of the New York Power Authority, succeeding Roger B. Kelley. The Authority manages 18 power generation sites across New York State. While commended for his frequent visits to upstate facilities, some state senators criticized his extensive use of the Authority’s private aircraft and called for reviews of his travel expenditures.

Early during his NYPA leadership, Kessel eliminated most oversight roles within Executive Offices and appointed associates to new or recently vacated positions despite an ongoing state hiring freeze, attracting media attention.

He stepped down from his role at NYPA effective September 6, 2011, following the election of Governor Andrew M. Cuomo.

Kessel lives in Merrick, New York, holds a bachelor's degree from New York University, and earned a master's degree in political science from Columbia University. He has taught courses on consumer issues at both Brooklyn College and Five Towns College.

In October 2023, Governor Kathy Hochul appointed him Chair of the Nassau Interim Finance Authority.

See also

• Jay Walder
• Christopher O. Ward