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NYPA to Hold June 4 Hearing in Syracuse on Hydropower Supply Contracts with Upstate Utilities

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

April 29, 2008 

FOR IMMEDIATE RELEASE

WHITE PLAINS—The New York Power Authority (NYPA) Trustees Tuesday authorized a public hearing for June 4 in Syracuse on proposed contract extensions for sale of hydropower from the Authority’s Niagara and St. Lawrence-Franklin D. Roosevelt Power Projects to National Grid, New York State Electric and Gas, and Rochester Gas and Electric. 

The Power Authority would continue to provide the upstate utilities with a total of 455 megawatts (mw) of firm power and 360 mw of firm peaking power through 2009 under the contract extensions. As with the current contracts, which expire on June 30, 2008, the contract extensions would be subject to earlier termination by the Power Authority on 30 days’ written notice. This provides flexibility for future long-term use of the hydropower in the event of new legislation. 

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 sells the electricity, at cost, to the three utilities for their residential and small farm customers, in accordance with state law. The power is among the least-cost in the country. 

The NYPA board previously extended the contracts in July 2007 in anticipation of their expiration the following month, pending completion of a formal contract approval process that included a public hearing in November 2007. The earlier extensions succeeded contracts that began in 1990. 

Following the June 4 hearing on the proposed 18-month contract extensions, the agreements will be submitted to Gov. David A. Paterson for his consideration. 

The hearing will be held at 10:30 a.m. at Syracuse City Hall, 233 East Washington St., in the Common Council Chamber.  

 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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