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0828 Governor Cuomo Authorizes Hydropower Contract to Support Economic

0828 Governor Cuomo Authorizes Hydropower Contract to Support Economic

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Published by: pritchie10 on Aug 28, 2012
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GOVERNOR CUOMO AUTHORIZES HYDROPOWER CONTRACT TO SUPPORT ECONOMICDEVELOPMENT IN ST. LAWRENCE COUNTYGovernor Andrew M. Cuomo today announced the authorization of a powersupply contract between the New York Power Authority and the MassenaElectric Department, making available up to 20 megawatts (MW) oflow-cost hydropower to help support economic development and jobgrowth in St. Lawrence County. The power contract extends to September2025."This contract will help make low-cost, clean power available tobusinesses and communities in the North Country, fueling additionaljob growth and economic development," Governor Cuomo said. "Ourstate's job creators need access to affordable power, and thiscontract continues the state's work to ensure our energy sector isequipped to help drive New York's economic recovery."The Massena Electric Department (MED) will be authorized to makeallocations from the 20 MW of hydropower
known as "St. Lawrence CountyEconomic Development Power"
after consultation with the St. LawrenceRiver Valley Redevelopment Agency (RVRDA), the St. Lawrence CountyIndustrial Development Agency Local Development Corporation (IDA), andthe North Country Regional Economic Development Council. The proposedpower allocations are then subject to review by the NYPA trustees forapproval.The power, from the New York Power Authority's (NYPA) St.Lawrence-Franklin D. Roosevelt Power Project in Massena will be soldto MED at cost-based rates, with the power resold to the qualified endusers at no mark-up beyond costs incurred by MED. The power will bedrawn from hydropower previously sold to out-of-state users andredirected to New York State during the 2003 federal relicensing ofthe St. Lawrence-FDR project.The Massena Electric Department, which is authorized by New York lawto purchase power from NYPA, also receives nearly 24 MW of cost-basedhydropower for its retail customers from the Power Authority
s NiagaraPower Project.Gil C. Quiniones, NYPA president and CEO, said, "This power contractmaximizes the benefits of low-cost hydropower at a time of economicneed and furthers the function of public power. I want to extend mythanks to Governor Cuomo, RVRDA, MED, IDA and the area electedofficials for helping to make this happen."Senator Joseph A. Griffo said, "Today's good news emphasizes thatGovernor Cuomo was very aware of how important this initiative is tothe North Country. I commend NYPA President and CEO Quinones and theBoard for keeping the best interests of St. Lawrence's companies inmind. Affordable, reliable and clean energy is always near the verytop of every business' wish list and now the opportunity is there toshow that serious development is not just wishful thinking."Senator Patty Ritchie said, "I want to thank Governor Cuomo forsigning this important measure. This low cost power allocation willresult in new business and new opportunities for Northern New York. Ilook forward to continuing to work with the governor and NYPA to

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