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