Statement by New York Power Authority (NYPA) President and Chief Executive Officer Richard M. Kessel Regarding the Power For Jobs and Energy Cost Savings Benefit Programs
May 14, 2010
FOR IMMEDIATE RELEASE
“NYPA is extremely disappointed that the enabling statute for the Power For Jobs and Energy Cost Savings Benefit programs will expire at midnight this Saturday. At that point, the Power Authority will no longer have the legal authority to continue to provide the benefits of the programs. Having visited some of the participating businesses, and having had the opportunity to speak directly with many of the people employed by them, I am personally cognizant of the disruption that this lapse will create for our 520 business customers. Therefore, NYPA is committed to working with these businesses during this difficult time, and remains hopeful that we will be able to make them whole if the appropriate legislation is enacted.”
■ 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 public power organization, with 17 generating facilities in various parts of New York State and more than 1,400 circuit-miles of transmission lines. ■ More than 80 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.