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New York Power Authority Issues Updated Strategic Plan

Contact Information:
Connie Cullen
(914) 390-8196
Connie.Cullen@nypa.gov


March 26, 2014

FOR IMMEDIATE RELEASE

WHITE PLAINS - The New York Power Authority (NYPA), the statewide public power utility, on Tuesday issued its updated strategic plan, entitled Strategic Vision 2014-2019, which focuses on helping New York State’s economy grow by providing more value to NYPA’s customers and building on its historic role as a responsible steward of its assets, including the state’s hydropower resources.

“The energy industry is in the early stages of transformative change that will dramatically alter the way electric power is generated, delivered and used by our customers,” said John R. Koelmel, chairman, NYPA. “The Power Authority has issued its updated strategic plan to reflect how it must also change, adapt and lead moving forward.”

As reflected in the Strategic Vision, NYPA is dedicated to working closely with its customers to better understand their energy and business requirements, further reduce their energy costs, strengthen system resiliency and meet environmental and sustainability goals. The Power Authority will also increase its efforts to modernize its generation and transmission infrastructure, building on Governor Andrew M. Cuomo’s Energy Highway Blueprint and his other energy initiatives.

“What you will see in the pages of our Strategic Vision is more focus on our customers and how to serve their needs in the increasingly dynamic energy marketplace,” said Gil C. Quiniones, president and chief executive officer, NYPA. “By making our infrastructure more flexible, resilient and connected, we will be ready to accommodate newer, evolving technologies to meet the energy challenges faced by our customers and support Governor Cuomo’s efforts to transform and modernize the state’s electric power system.”

Quiniones cited the Power Authority’s double-A credit rating, unique generation and transmission assets across the state, and long history of achievement in customer-side energy services as strengths for helping turn uncertainty in the industry into opportunity and to deliver still-greater benefits to the people and businesses of New York.

NYPA will also build on the strengths of its already skilled and dedicated workforce to become even more responsive to the needs of customers.

The Power Authority, as required by its by-laws, has for many years annually reviewed and updated, as necessary, its strategic plan and mission statement, which was also updated this year. Both serve to guide the development and implementation of all NYPA operations, including the annual budget and capital expenditure plan. Also, the Public Authorities Law requires state authorities, like NYPA, to develop and adopt a mission statement.

NYPA’s mission has evolved significantly since its inception in 1931, yet key themes have remained constant. These include low-cost power, environmental awareness, economic development and reliability.

Recognizing those themes and expanding the emphasis to further support the future needs of NYPA’s customers, the updated Mission Statement reflects NYPA’s core functions, and reads as follows: “Power the economic growth and competitiveness of New York State by providing customers with low-cost, clean, reliable power and the innovative energy infrastructure and services they value.”

The Strategic Vision, with the updated Mission Statement, outlines a Vision, Values, Corporate Strategic Goals and Strategic Initiatives showing how NYPA will continue to work to enhance energy infrastructure and economic development making New York State an even greater place to live and do business..

NYPA’s Strategic Vision 2014-2019 can be accessed at: http://www.nypa.gov/PDFs/StraVis2014/.

 

About NYPA:

■ The New York Power Authority has been designated as the lead entity via Executive Order 88 by Gov. Andrew M. Cuomo to form a central management and implementation plan to carry out his Build Smart NY plan to reduce energy use by state facilities by 20 percent by 2020. ■ 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 the nation's largest state public power organization, through the operation of its 16 generating facilities in various parts of New York State, participation in a unique public/private partnership to contract for power from a clean generating plant in Queens, and its operation of more than 1,400 circuit-miles of transmission lines. ■ More than 70 percent of the electricity NYPA 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 visit www.nypa.gov and follow us on Twitter @NYPAenergy, Facebook, Instagram, Wordpress, and LinkedIn.