NEWS

N.Y. Power Authority's 2012 Annual Report Highlights NYPA Contributions Toward Governor Cuomo's Energy Initiatives

Contact:
Jill Murman Payne
(914) 390-8192
jill.murmanpayne@nypa.gov


April 16, 2013

FOR IMMEDIATE RELEASE

WHITE PLAINS – The New York Power Authority (NYPA) successfully completed 2012, helping the Empire State meet its diverse energy needs, with its accomplishments and solid financial results presented in NYPA’s newly released Annual Report.

Available online in a dynamic and interactive digital format at www.nypa.gov/financial, the 2012 report details NYPA’s many achievements, particularly the key role the organization plays in supporting statewide initiatives by Governor Andrew M. Cuomo to promote economic development, improve energy efficiency and modernize New York’s electric power system.

“The New York Power Authority has a tradition of rising to meet some of New York’s most pressing energy, economic development and environmental challenges,” said Gil C. Quiniones, NYPA president and chief executive officer. “Under Governor Cuomo’s leadership, we continued with significant contributions toward solutions in these areas, and look forward to furthering this progress in the years ahead, bringing even more value to the people of New York State.”

Highlights of the 2012 report include:

·       More than $900 million in savings for customers of NYPA’s power programs and energy efficiency financing;

·       28.1 billion kilowatt-hours of electricity generated at NYPA facilities – 71 percent of which came from low-cost, renewable hydropower;

·       Allocations of more than 700 megawatts to about 600 businesses and not-for-profits as Governor Cuomo’s ReCharge NY program took effect, providing support for hundreds of thousands jobs;

·       $270 million in financing for energy efficiency and clean energy projects;

·       Continuation of NYPA’s solid financial position, with ratings of AA/Aa2/AA- from Fitch, Moody’s and Standard and Poor’s, respectively, with S&P raising NYPA’s outlook from stable to positive.

To preserve resources and save energy, the Power Authority has made its 2012 annual report available in its entirety online at www.nypa.gov/financial.

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 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 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, www.nypa.gov




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