NEWS
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N.Y. Power Authority to Hold Hearings in September on Hydropower Contract Extensions with Upstate Utilities Contact:
August 3, 2009 The NYPA Trustees last week approved the hearings in connection with the continued sale of 455 megawatts (mw) of firm power and 360 mw of firm peaking power through December 2010. The power, sold at cost-based rates, is provided to National Grid, New York State Electric and Gas, and Rochester Gas and Electric for their residential and small farm customers, under the state Public Authorities law. Firm power is defined as power intended to be available at all times, while firm peaking power is generation to satisfy demand for electricity during hours of greatest usage. The hydropower is provided to the utilities at rates typically 75 percent less than market prices, with the benefits passed onto the residential and small farm customers. The power is among the least-cost in the country. In June 2008, the NYPA Trustees extended the contracts with the utilities through December 2009. This followed contract extensions in 2007. The proposed contract extensions, from Jan. 1 through Dec. 31, will be submitted to Gov. David A. Paterson for his consideration following the hearings. The hearings will be held on Sept. 1 at 2 p.m. at the Niagara Power Project Power Vista at 5777 Lewiston Rd. in Lewiston and on Sept. 2 at 10 a.m., at Syracuse City Hall, 233 East Washington St., in the Common Council Chambers. The proposed agreements are available on NYPA’s Web site at www.nypa.gov by clicking onto the link “September Public Hearings on Hydro Contracts.”
About NYPA: ■ The New York Power Authority 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 New York State and more than 1,400 circuit-miles of transmission lines. ■ About 75 percent of the electricity it produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state. ■ For more information, www.nypa.gov
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