Exhibit 99.1

KEYSPAN
Climate is Everything                                                       NEWS
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                                                           For Immediate Release
For Immediate Release June 30, 2005



                                                 Contact: Carmen Fields
                                                          (781) 466-5096

                        KeySpan Upgrade Proposal Rejected
                    KeySpan to review, reassess alternatives


Providence, RI -(June 30, 2005)--KeySpan  Corporation officials are conducting a
full assessment of today's Federal Energy Regulatory  Commission (FERC) decision
to reject the company's plans to upgrade its existing LNG facility in Providence
to  accommodate  marine  deliveries.  KeySpan  executives say they will evaluate
today's decision in detail in the days ahead.

The following is a statement from David J. Manning, Executive Vice President and
Chief Environmental Officer at KeySpan:

"We are quite naturally  disappointed by the decision, and respectfully disagree
with the  rationale  for it.  KeySpan has and will  continue to have the highest
regard  for  safety  of its  facilities,  its  employees,  and  the  surrounding
populations.

"Energy supply is an important tool for economic growth; many studies have shown
that if the U.S.  doesn't  act now to augment  its  natural  gas  supplies,  our
heating  and  electric  supply  burden  will  not be met  in  the  near  future,
particularly in the Northeast.

"We know that safety concerns about LNG facilities often  overshadow  discussion
of  the  projects.   We  will  be  reviewing  today's  decision  and  evaluating
alternative  options to reliably  address the growing  demand for natural gas in
this region."

The  Fields  Point  LNG  facility  has been  part of the  Providence  community,
operating  safety for over 30 years.  It was upgraded and modernized in 1999 and
2000, and remains a critical  component of the region's gas supply needs now and
in the  future.  It is  currently  in use as an LNG storage  facility  owned and
operated by KeySpan and filled by truck.

A member of the Standard & Poor's 500 Index,  KeySpan Corporation  (NYSE:KSE) is
the fifth  largest  distributor  of  natural  gas in the  United  States and the
largest  in the  Northeast,  operating  regulated  gas  utilities  in New  York,
Massachusetts,  and New  Hampshire  that  serve  2.6  million  customers.  These
customer-focused businesses are complemented by a portfolio of service companies
that  offer  energy-related  products,  services,  and  solutions  to homes  and
businesses.  KeySpan is also the largest  electric  generator in New York State,
with approximately 6,600 megawatts of generating capacity that provides power to
1.1 million  customers of the Long Island Power Authority  (LIPA) on Long Island
and supplies approximately 25 percent of New York City's capacity needs. KeySpan
also operates  LIPA's  transmission  and  distribution  system under contract to
LIPA. In addition to these assets, KeySpan has strategic investments in pipeline
transportation,  distribution, storage, and production. KeySpan has headquarters
in Brooklyn, New England, and Long Island. For more information, visit KeySpan's
web site at www.keyspanenergy.com. # # #