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NYPA to Hold November 8 Public Hearing in Syracuse on Hydropower Supply Contracts with Upstate Utilities

Contact:
Michael Saltzman
914-390-8181
michael.saltzman@nypa.gov 

September 25, 2007 

FOR IMMEDIATE RELEASE 

WHITE PLAINS—The New York Power Authority (NYPA) is planning for a November hearing in Syracuse on contract extension agreements for sale of hydropower from the Authority’s Niagara and St. Lawrence-Franklin D. Roosevelt Projects to National Grid, New York State Electric and Gas, and Rochester Gas and Electric for their residential customers.

The NYPA trustees Tuesday authorized the public hearing, which will be held on Nov. 8 at 1 p.m. at Syracuse City Hall, 233 East Washington St., in the Common Council Chamber.

The proposed agreements provide a total of 455 megawatts (mw) of firm power and 360 mw of firm peaking power for the three upstate utilities, until June 30, 2008, subject to early termination on 30 days’ written notice. Firm power is defined as power available at all times, while firm peaking power is generation to satisfy demand for electricity during hours of greatest usage.

The Power Authority board approved the contract extensions, on an interim basis, in July, with the agreements then commencing on September 1, following expiration of the previous contracts. The extensions, which are subject to the later approval of Gov. Eliot Spitzer, are viewable on NYPA’s website, at www.nypa.gov, and then clicking on to the link, “November Public Hearing on Hydro Contracts.”

 About NYPA:

■    NYPA uses no tax money or state credit.  It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity.  ■    NYPA is a leader in promoting energy-efficiency, new energy technologies and electric transportation initiatives.  ■    It is the nation’s largest state-owned electric utility, with 18 generating facilities in various parts of the state and more than 1,400 circuit-miles of transmission lines.

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