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Statement by N.Y. Power Authority: NYPA Committed to Continuing Discussions with St. Lawrence Local Government Task Force

Contact:
Michael Saltzman
(914) 390-8181
Michael.Saltzman@nypa.gov

June 30, 2014

FOR IMMEDIATE RELEASE

The New York Power Authority (NYPA) is committed to continuing our discussions with the Local Government Task Force (LGTF) in the review of the settlement agreement for the 2003 federal relicense of the St. Lawrence-FDR Power Project. We are offering significant and substantial benefits such as a $40 million discount in electric rates for businesses, farms and dairies, between now and 2018, and building new recreation facilities to attract large tourist events, all of which go beyond the hundreds of millions of dollars in current NYPA funding from the license.

Regrettably, the LGTF has ignored all of these proposals and is solely interested in funds that can be used for general local government purposes. As the LGTF is well aware, this cannot be done, as it is outside NYPA’s legal authority. While significant progress has been achieved, we look forward to a mutual, good faith effort that ends in a comprehensive agreement that benefits all members of the St. Lawrence community.

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.